With the digitalization of finances all over the country, undoubtedly rural areas have fallen behind in terms of availing of the excellent new improvements in fintech. Bank Mitra CSP and AEPS services are two important steps taken towards the inclusion of rural India in the frontier of these new developments. Let’s find out how you could be the next stepping stone for your community:
What exactly is a Bank Mitra CSP AEPS Portal?
Bank Mitra is India’s leading CSP (Customer Service Point) initiative. Bank Mitra or Mini Bank services are available in PAN India and through multiple Indian banks. Mainly targeting rural unemployment, Bank Mitra is an excellent opportunity to make an earning. All you need is a computer with an Internet connection.
If you are an existing business owner, Bank Mitra services can help you add to it, by turning your business space into a Mini Bank. In a true b2b business style, you can reach other merchants through Bank Mitra CSP.
Not only will you make a great profit, but you will also be contributing to PM Jan Dhan Yojna, which assigned Bank Mitra or Mini Banks as the promoter of mainstream banking in rural areas.
To fine-tune the services provided by Bank Mitra CSP, API service providers like Noble Web Studio offer incredible software support in the form of b2b AEPS portals. These AEPS portals, powered by API providers, can considerably increase the number of services you can provide through your Bank Mitra CSP.
Benefits of Bank Mitra AEPS Portal
- Bank Mitra Mini Bank
- Account Opening
- Money Transfer
- Atal Pension Yojna Account
- Recharge
- Utility Payments
Turn Your Shop Into a Mini Bank
You can contact your nearby bank branch and inquire about opening a Mini Bank, that is, becoming a Bank Mitra CSP (Customer Service Point). You will need a working PC, an internet connection, and a printer, and in no time you will have a Mini Bank powered by esteemed banks. Most banks would also take their time to train you on how to operate a Mini Bank as a Bank Mitra CSP.
Bank Mitra can also house an AEPS, that is, Adhaar Enabled Payment System through a POS (Point of Sale) system. To do so you can take the help of the API provider, Noble Web Studio.
Help People Start Their Banking Journey
Bank Mitra CSP allows the admin to help customers to open bank accounts without having to visit the bank branch. It is an additional feature, which is often not available through AEPS Portal.
From a b2b business standpoint, this can help rural merchants create more efficient networks, by increasing ease of payment.
Provide Excellent Money Transfer Service
The well-known Tatkal Rupay service was given a boost through the Bank Mitra service. The Bank Mitra Wallet played an important role in this, making money transfers extremely easy for both the client and the admin.
Other transactions like cash deposits, cash withdrawals, Jeevan Bima payments, etc can also be done through Bank Mitra. For customers without a debit card, having an AEPS portal backing your CSP would be of excellent help.
Make People’s Retirements Smoother
Atal Pension Yojna is an excellent scheme started by the Honorable Prime Minister Shri Narendra Modi in the year 2015. Bank Mitra allows the admin to open an Atal Pension Yojna account for their customers at the customer service point.
Through AEPS Portal this service can be expanded into paying premiums for a number of insurance agencies.
Quick Recharge
Bank Mitra allows you to provide a number of prepaid services for your clients and other b2b businesses. Mobile and DTH recharge are two out of the number of services you can provide.
Furthermore, an AEPS Portal backed by a great API Provider could help you add more services to your Mini Bank and make it more efficient. An API provider like Noble Web Studio provides excellent customizable software support for all its clients. You can book a Demo at any time.
Keep Up With All The Bills
An AEPS-backed Bank Mitra can provide this extra service of helping their customers pay all their utility bills. Electricity, LPG, water, etc bills become very easy to pay through the AEPS portal.
Moreover, you can provide all these services for a commission, with little investment of your own. Noble Web Studio is an API provider that can help you create a customized AEPS portal at a very reasonable price.
Who Is Eligible For Opening a Bank Mitra CSP?
- You are eligible for opening a Bank Mitra CSP only if you are 18 years or older in age.
- You must have some basic computer knowledge and an active internet connection.
- To open a Bank Mitra CSP, you must have a space of 100 sq. ft.
- The Bank Mitra CSP should be situated within a 10 km radius of a Bank branch.
- You should be able and willing to invest some amount of money into basic equipment, in order to open a Bank Mitra CSP.
- You will need passport-sized photographs, your Pan Card, your Adhaar Card, office address proof, education proof, and your IIBF Certificate (Indian Institute of Banking and Finance).
The Noble Web Studio website outlines everything you will need to start an AEPS portal of your own. Here is an excellent article telling you about the must-follow guidelines for AEPS agent registration.
Some Final Words
Bank Mitra CSP is an initiative that not only helps people build their own careers, but also helps the financial literacy of their entire community. Alongside AEPS portals, these service points have been excellent in championing the cause of rural development. If you find yourself in the position to reap the benefits of the opportunities these two provisions, please go ahead and definitely give it a go.