If you run a retail Shop, then introducing digital banking services might help you create a new revenue stream wherein you can provide valuable services to your neighborhood. One popular digital banking service these days is the Aadhaar Enabled Payment System. AePS allows a person to access basic banking facilities by utilizing his Aadhaar number and confirming it with the help of his biometrics; this helps in making banks reach out to both urban and rural population. In this guide, we’ll take you through the steps to start AePS service at your retail shops in india by onboarding with an excellent AePS service provider company like UsetoPay.

Understanding AePS Services

AePS allows your customers to perform several banking transactions without the need for a physical bank branch or an ATM. With AePS, your shop can provide:

• Cash withdrawals
• Balance inquiries
• Money transfers
• Mini account statements

These services are especially useful in rural and semi-urban areas where access to traditional banking services is limited. AePS also makes it easier for customers who are not connected to online banking services or who prefer cash transactions.

As a retail shop owner, offering AePS services helps you cater to a broader audience while contributing to the financial inclusion efforts across India. Additionally, it allows you to earn a commission on every transaction made at your shop.

Step 1: Find a Reliable AePS Service Provider

The first and most important step is to partner with an AePS service provider company that offers a user-friendly platform, reliable customer support, and competitive commissions. One such company is UsetoPay, a well-established player in the digital banking space. UsetoPay provides a full suite of services including AePS, Domestic Money Transfer (DMT), micro ATM, and utility bill payments. Here’s why you should consider UsetoPay:

• Secure and seamless transactions: UsetoPay ensures that all transactions are secure and processed quickly, minimizing errors or delays.
• Easy onboarding process: UsetoPay offers an easy and hassle-free registration process, allowing you to get started with AePS services in no time.
• High commission rates: You can earn attractive commissions on each transaction, making it a lucrative service for your shop.
• Mobile app: UsetoPay app allows you to manage transactions and track earnings from your smartphone.

Before committing to any AePS service provider, make sure to compare offerings, fees, and customer support services to ensure you choose a company that fits your business needs.

Step 2: Register Your Retail Shop

Once you’ve selected an AePS service provider, it’s time to register your retail shop to start offering AePS services. The registration process usually involves these steps:

1. Sign Up Online: Visit the AePS service provider’s website or app (such as UsetoPay) and sign up using your shop’s details like name, address, and contact information.
2. Submit KYC Documents: You’ll need to provide identity verification documents like your Aadhaar card, PAN card, and any required business documentation, such as your shop’s GST registration.
3. Get Your Retailer ID: After completing the verification process, the AePS provider will issue you a unique retailer ID that gives you access to the AePS platform.

With UsetoPay, the registration process is quick and efficient, allowing you to begin offering AePS services without unnecessary delays.

Step 3: Set Up Your AePS System

To facilitate AePS transactions at your shop, you’ll need two key components: a biometric device and an AePS-compatible app. Here’s how to set everything up:

• Biometric Device: The biometric device is used to capture the customer’s fingerprint, which serves as their authentication for AePS transactions. Common devices include brands like Mantra, Morpho, and Startek, which are compatible with most AePS systems.
• AePS App: After you’ve set up the biometric device, download the AePS service provider’s app—such as the UsetoPay app—on your smartphone. This app will serve as the gateway for processing transactions.
• Test the Setup: Once everything is installed, perform a test transaction to ensure that the biometric device and app are functioning correctly.

Step 4: Promote Your AePS Services

Now that your AePS services are up and running, it’s important to let your customers know about this new offering. Here are some ways to promote AePS services at your retail shop:

• Put Up Signage: Display posters, banners, and signs advertising AePS services at your shop. This will attract customers who are in need of banking solutions.
• Offer Promotions: Encourage first-time customers to try out AePS by offering a small discount on other items they purchase from your shop.
• Use Word of Mouth: Ask satisfied customers to spread the word about your AePS services. Positive word of mouth can be very powerful, especially in close-knit communities.
• Leverage Digital Marketing: Share details about your AePS services on social media platforms and in local WhatsApp groups. This will help you reach a wider audience.

Step 5: Train Your Staff

If you have employees working at your shop, it is very important that you train them about the AePS system. They should be given information about how the biometric device works, answer customer queries as well as ensure an effective transaction process. Also, train them about maintaining customer privacy and not sharing sensitive information.

Step 6: Expand Your Digital Banking Services

Why stop at AePS? To truly become a one-stop digital banking solution provider in your area, consider offering additional services like Domestic Money Transfer (DMT), utility bill payments, and mobile/DTH recharge. Many AePS service providers, including UsetoPay, offer these services on the same platform, making it easy for you to diversify your business.

Offering a wider range of services will not only increase your shop’s foot traffic but also help you establish customer loyalty by providing more convenient financial services.

Benefits of Offering AePS Services

• Increased Customer Footfall: Offering essential banking services will attract new customers to your shop who might not have visited otherwise.
• Higher Revenue: You earn commissions on every AePS transaction made at your shop. As more customers use your services, your earnings grow.
• Customer Retention: Customers who rely on your shop for their banking needs are likely to return regularly, boosting your customer retention rates.
• Contribution to Financial Inclusion: By providing AePS services, you’re helping to bridge the gap for people who don’t have easy access to traditional banking facilities.

Common FAQs

1. How to start a small retail shop?

Start with market research, create a business plan, select a small location, register your shop, and stock popular items to attract local customers.

2. Which is the best AEPS service provider in India?

UsetoPay is one of the top AEPS service providers in India, offering secure transactions, competitive commissions, and easy setup for retailers.

3. Can I offer AePS services in rural areas? 

Yes, AePS services are highly popular in rural areas where traditional banking infrastructure is limited. Offering these services can make your shop a hub for banking in the community.

4. How to register a retail shop in India?

To register a retail shop, apply for GST registration, obtain trade licenses, and complete local municipal formalities based on your business location.

5. How to start a retail shop in India?

Choose a location, get necessary licenses, set up your inventory, and invest in marketing strategies to draw customers.

Conclusion

Starting AePS services at your retail shop is a smart way to offer digital banking solutions to your customers while boosting your income. By partnering with a reliable AePS service provider company like UsetoPay, you can ensure that your transactions are secure, efficient, and profitable. Follow the steps outlined in this guide to get started, and soon your shop will become a go-to destination for essential banking services in your community.

Read also : Right AePS Service Provider