Aadhar Enabled Payment Service (AEPS), uses Aadhar Data and Biometric authentication instead of signature or debit card information of the customers and allows them to quickly Withdraw, Deposit and Transfer cash & also access bank statements without visiting their bank branch. So, instead of searching for an ATM or a bank branch, customers can visit our nearest Umang Digital Way retail Store and do all of these transactions using their Aadhar Data and Biometric Authentication.
Domestic Money Transfer
With Umang Digital Way Domestic Money Transfer service, retailers can help customers to instantly transfer their money to any bank account in the country, anywhere and anytime, even on bank holidays. The sender does not need a bank account to transfer the money from, and just need to pay a minimal transaction fee to the retailers.
Micro ATM
mPOS (Mobile POS) refers to mobile point of sale system which is the combination of software and hardware. This is an electronics device used by merchants for transaction in daily business life. mPOS machine is going to be key element in businesses just because of its cashless transaction function.Basically it is used in retail shops where customer likes perform transactions through Credit or Debit card. This is basically used in retail shop, grocery, food and beverage industry. I think till now you have understood for what machine talking about. Even if you have doubt I give an example which helps you to understand this clearly.
Loan Services
Now each retailer of Umang Digital Way can give loan to customer from Nationalised bank, RBI registered NBFC . Loan products include Personal Loan , Credit card, Business Loan, Home loan, Card loan, Loan Against property , Used car loan. The loan process is totally paperless just have to upload required documents of customer to the portal and trash the application. Retailer gets higher commission on each loan disbursed.
Account Opening
Umang Digital Way works closely with its service partner to offer need-based insurance products such as four-wheeler and two-wheeler insurance, life and health insurance to target the customers in the Tier 2/Tier 3 cities. Customers can avail this facility by reaching their nearest retail outlet. Umang Digital Way is a Composite Corporate Agent & authorized to provide insurance solutions in India. Umang Digital Way offers this service to those customers who are generally in the high risk category or cannot afford the high premiums.
