With the Common Service Centres (CSCs) accounting for over 25 per cent of all Aadhaar-Enabled Payment System (APES) transactions across the country, it has become the mainstay of India’s cashless payment system.

The average number of AEPS transactions being done by CSC ecosystem – DigiPay — is about 1.8 crore transactions per month, which is more than 25 per cent of total transactions in the country. The total AEPS transactions during last year have been recorded at ₹10,764 crore through CSCs.

Cashless India drive

“The CSCs have been instrumental in spearheading the cashless India drive. CSC DigiPay platform has resulted in enabling financial services delivery through its network of about four-lakh CSCs to segment of society who otherwise would have found difficult to approach bank branches,” Dinesh Tyagi, Managing Director, CSC told BusinessLine .

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During the pandemic over the last one year, a large number digital financial transactions have been started across the country to benefit citizens especially those living away from the bank branches, he said.

“Out of the six-lakh villages, there are about 60,000 rural bank branches. Though citizens are covered under the Jan Dhan Yojna, but due to lack of access points especially branches of banks, it was still inconvenient to perform transactions like withdrawal, deposit etc,” Tyagi explained.

Even in technology, AEPS has been found to be the most acceptable in Rural India. Latest report from National Payments Corporation of India (NPCI) also mentions more than seven-crore transactions through AEPS per month, he said.

UPI and card transactions have also showed significant growth during the pandemic. AEPS is largely used in assisted format of delivery.

“Our network of Banking Correspondents (BCs) has been very useful to service in rural areas. In terms of technology, AEPS has been found to be the most acceptable in rural India. A large number of citizens benefited from DigiPay, include old age person, person who are unwell, women, handicapped persons who cannot go to nearby banks. As CSCs are located in almost all panchayats, it is close to the place of residents,” Tyagi said.

In some cases, the CSC village level entrepreneurs also visit houses of people and help them avail banking services through DigiPay. During the Covid when there were restrictions on travel, CSCs became useful to citizen. CSC are supporting in promoting a financially inclusive society, Tyagi added.

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