To expand access to digital banking in India's rural areas, Shams Tabrez established Ezeepay Digital Bharat in 2018. Using the pre-existing retail infrastructure in these areas, the company's founders hoped to open new revenue streams for local entrepreneurs. Become an Ezeepay agent and get your business up and running with no money down.
Understanding the Money Transfer Business
The term "money transfer business" describes the business that transfers money between people or organizations, locally or worldwide. Banks, MTOs, and fintech companies compete in this sector by providing customers with various digital payment services. Globalization of trade and the proliferation of digital technology that provide instantaneous and low-cost money transfers have contributed to the market's meteoric expansion over the past few decades.
Companies that deal in aeps money transfer must adhere to anti-money-laundering regulations established by the countries' governments to which their clients send money to prevent the transfer of illicit funds and the financing of terrorist activities. Money transfer businesses risk punishment from government agencies if they do not adhere to these rules. Fines and disciplinary action are two examples of these consequences. In addition, Money Service Businesses that are involved in terrorist financing and money laundering suffer devastating reputational damage.
A money transfer app, often known as a P2P app or person-to-person payments app, is a mobile-friendly digital platform that facilitates the transfer of funds from one user's bank account to another user's bank account or digital wallet. With these apps, you can send and receive money quickly and easily, and there's no need for any physical currency, cheques, or credit cards.
How Ezeepay Supports Money Transfer Businesses
Overview of Ezeepay's services for money transfer businesses
As an Ezeepay Retailer, you can earn up to Rs. 50,000 per month by offering a wide range of financial services to your customers, such as Cash Withdrawal, Money Transfer, Cash Deposit, Mini Statement, Aadhar Pay, M-ATM, Balance Enquiry, Prepaid Cards, Loans, and many more.
Ezeepay also allows retailers to manage their customer credit and accounting. With this product, any storefront can function as a branch of a financial institution.
Ezeepay's mission is to serve the modern entrepreneur who takes their financial future into their own hands. You make money by paying other people's bills, whether for electricity, postpaid services, or anything else.
Ezeepay allows you to sell various insurance policies to local customers, from life insurance to auto insurance. The prices and coverage details of multiple plans can be compared so that stores can provide customers with various insurance options. You can make a solid living off of commissions by peddling insurance policies.
Ezeepay, a mobile payment program, has many uses for retailers. They might profit by reserving IRCTC, airline, bus, and other transportation tickets for customers in remote places. In addition, shops can earn substantial commissions by booking hotels for customers.
With Ezeepay, merchants in rural areas can provide their clients with various e-governance services, including PAN card creation. Customers can generate TTR filings, OST registrations, MSME registrations, and other financial papers recognized by the government without ever having to set foot inside a government office, thanks to the tools included in Ezeepay.
Be your consumers' bank of choice by adopting Neo Banking practices. All of the banking services it offers are open for you to provide, and that's not all. Gain a cut of the action with every successful platform transaction. Increase your income by increasing your social interaction.
Advantages of partnering with Ezeepay
All of their services are available on a safe, low-cost
platform.
- Numerous Goods
and Services
The company provides its agents with 60+ services to help
them provide the best possible service to their customers.
- Get Paid With
Every Sale You Make!
With Ezeepay, affiliates can earn a maximum commission on
all service transactions.
- Respect and
Loyal Clientele
The confidence and
dedication of Ezeepay's agents allowed the company to grow to a family of 500k
agents.
Steps to Starting a Money Transfer Business with Ezeepay
By becoming a retail agent for Ezeepay Digital Bharat, you may launch a profitable business with no initial capital outlay. You need an established retail operation to qualify. Through the Ezeepay app, you can extend your business offerings to include money transfers, bill payments, travel bookings, and insurance payments. In addition, the Ezeepay money transfer agent portal sells micro-ATMs that may be used with the Aadhaar Enabled Payment System. (AePS).
By accepting Ezeepay, nearly half a million merchants are increasing their monthly revenue by more than INR 25,000.
If you have one of the following, you can use Ezeepay to launch your business immediately:
·
Kirana Store
·
Medical Store
·
Clothing Store
·
Hardware Store
·
Restaurant
·
Tailor
·
Fertilizer Shop
·
Travel Agency
Stores of a different type should contact Ezeepay to see if they qualify.
Here are the steps you need to take to become an Ezeepay agent:
Step 1: Get started with Ezeepay Digital Bharat by installing it
from the app store. (e.g. Google Play Store)
Step 2: Key in your phone
number and look out for an OTP:
Step 3: After verifying your phone number, fill up your profile
information.
Step 4: Give your home address and phone number on the
form.
Step 5: Fill
in your Permanent Account Number (PAN) and Aadhaar.
Step 6: Select
"Retailer" as your membership type to launch your risk-free
enterprise
Managing Your Money Transfer Business
·
Consult with
attorneys,
·
Learn about the
players in the money transfer ecosystem, and
·
Develop a strategy
for running your firm.
·
Pick a co-developer
of software
·
Get your license
·
Stay out of trouble
with anti-laundering agencies
·
Save up some
operating cash.
Conclusion
Furthermore, becoming a master distributor or a district franchise is an option if you are seeking a business opportunity on a greater scale. Despite the higher upfront costs, both strategies result in greater profits and access to more resources. Ezeepay provides numerous options for generating a healthy profit margin, regardless of the nature of your business.
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