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Aadhaar Enabled Payment System (AePS): Facilitates banking transactions using Aadhaar for financial inclusion, offering secure, interoperable services across banks. Users can access various banking services like cash withdrawal and balance inquiry through Aadhaar verification, promoting financial inclusion and making banking services accessible to all, especially in rural areas.
Direct money transfer involves the electronic transfer of funds within a country's borders. Utilizing banking channels, digital platforms, or remittance services, individuals can securely send and receive money domestically, facilitating convenient and efficient financial transactions while supporting economic activities and financial inclusion within a specific country.
Prepaid cards are payment cards loaded with a predetermined amount of money, usable for purchases and transactions. They provide a convenient and secure alternative to traditional banking, allowing users to manage expenses, make online or in-store purchases, and withdraw cash from ATMs, without the need for a bank account.
FASTag allows automated deductions, reducing traffic congestion and promoting efficient toll management.
It facilitates services such as cash withdrawals, deposits, and fund transfers, extending financial inclusion.
It involves optimizing the handling, control, and utilization of cash within a business or financial institution.
