A nationwide offer was launched by RapiPay Fintech Private Limited, giving the highest ever commission on AePS (Aadhaar-enabled payment system) services for its agents, RapiPay Saathis, is accessible till Mid January 2021.
The Aadhaar-enabled payment system makes it easier for all segments of the society to withdraw cash easily with the Aadhaar card. The company aims to bring financial inclusion deeper into the country to empower people in these areas. Through RapiPay Saathis, the customers can withdraw money, make payments, and download account statements anywhere, anytime. Along with enabling its customers with ease of banking services, it also offers the highest ever commission to its agents. In the Aadhaar ATM industry, the company gives the best commission to its agents at an incremental price of Rs. 3 per transaction.
Mr. Yogendra Kashyap, CEO of RapiPay, said that the incremental incentive offered on the AePS service is a golden opportunity that would create a huge impact for both agents and end-users. The agents will earn up to 12 times more than they usually do with the offering. The company took this step to support its Saathis during the pandemic. The company expects more than 1 crore AePS transactions to be facilitated under this scheme, i.e, over 1 crore customers will withdraw cash without depending on conventional ATMs and bank branches.
During the early days of the pandemic, AePS transactions surged by 153%, while conventional ATM transactions reduced by half. ATMs are not available for people in the deep rural parts of the country. They need to travel a long distance to access ATMs or get banking services. Due to doorstep services provided by Banking Business Correspondents, demand for AePS and micro-ATMs increased. Millions of customers were able to avail the benefits of Jan Dhan Yojana, PM-Kissan Samman Nidhi, Pradhan Mantri Garib Kalyan Scheme, and many more with the help of AePS and Micro-ATMs.
Mr. Kashyap added that under the leadership of the Prime Minister, many schemes were introduced to achieve the government’s vision of digital India. As a responsible Fintech company, RapiPay has also taken steps to make its contribution to complement the vision. The company endeavors to make banking and financial transactions smooth and approachable to the end consumers. Working to achieve the national goal of Financial inclusion, the company is giving special importance to the marginalized population in Tier 2 and Tier 3 cities.
