AADHAAR Enabled Payment System (AEPS),
AADHAAR Enabled Payment System provides basic financial services (cash deposit, balance enquiry, cash withdrawal and remittance) at low cost access devices (called MicroATMs) maintained at Business correspondents in an interoperable way.
The AADHAAR enabled basic types of banking transactions are:
The objective of AADHAAR Enabled Payment System (AEPS) is to empower a bank customer to use AADHAAR to access his/her AADHAAR enabled bank account and perform basic banking transactions that are intra-bank or interbank in nature through a business correspondent. It serves another important goal of RBI in electrification of retail payments.
Another important goal of AADHAAR Enabled Payment System (AEPS) serves is to facilitate interoperability across banks in a safe and secured manner. AADHAAR Enabled Payment System (AEPS) allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the AADHAAR authentication.
Inputs required for a AirCash - PoP(Point of Presence) or a Banking Correspondent (BC) to do a transaction under this scenario are:-
IIN (Identifying the Bank to which the customer is associated)
AADHAAR Number
Fingerprint captured during their enrollment.
Operations Commenced On 2014
Franchise Commenced On 2015
Investment INR 10000 - 50000
Franchise/Brand Fee INR 50000
Royalty/Commission 10 %
Region Wise
Investment INR 20lakh - 30lakh
State Wise
Investment INR 20lakh - 30lakh
City Wise
Investment INR 10000 - 50000
Exclusive territorial rights to a unit franchisee Yes
Performance guarantee to Unit Franchise Yes
Likely pay back period of capital for a Unit Franchise 0- Months
Haryana, Himachal Pradesh, Jammu and Kashmir, Delhi, Punjab, Uttaranchal, Uttar Pradesh
Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Telangana
Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Sikkim, Tripura, West Bengal
Goa, Gujarat, Maharashtra, Rajasthan
Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh
Chandigarh, Daman and Diu, Lakshadweep, Pondicherry, Andaman and Nicobar
Type of property required for this franchise opportunity Domestic
Detailed operating manuals for franchisees Yes
Expert guidance from Head Office to franchisee in opening the franchise Yes
Current IT systems will be included in the franchise Yes
Do you have a standard franchise agreement? Yes
How long is the franchise term for? Lifetime
Is the term renewable? Yes
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