AEPS Service Provider Company List: Complete Guide
The Aadhaar Enabled Payment System (AEPS) is an important part of India's assisted digital banking ecosystem. It enables eligible customers to access supported banking services through authorized channels using Aadhaar authentication. AEPS Service Provider Company List
Businesses searching for an AEPS service provider company list may include retailers, distributors, fintech startups, software companies, Business Correspondents, and entrepreneurs looking to provide assisted banking services.
AEPS can support services such as cash withdrawal, balance enquiry, mini statement, cash deposit and other supported transactions, depending on the participating bank and applicable AEPS arrangements.
What Is an AEPS Service Provider Company?
An AEPS service provider company can provide the technology and infrastructure required to connect businesses or agents with supported AEPS services.
Depending on the company, its platform may include:
- AEPS API
- AEPS mobile application
- Web portal
- Retailer panel
- Distributor panel
- Admin dashboard
- Wallet management
- Commission management
- Transaction management
- Reconciliation
- Reports
- Notifications
- Customer support
- Other fintech services
A technology provider should not automatically be considered a bank or an authorized AEPS participant. Businesses should verify the provider's current role, banking relationships, authorization arrangements, commercial terms, and compliance requirements.
AEPS Service Provider Company List in India
The following companies are commonly encountered in current industry AEPS and assisted-fintech comparisons. Recent 2026 industry lists include names such as Biznext, NSDL Payments Bank, Fino Payments Bank, Spice Money, PayNearby, RapiPay, Bankit and others. Biznext
1. Spice Money
Spice Money is an established assisted-fintech platform with a strong rural and semi-urban distribution network.
Its ecosystem includes services around:
- AEPS
- Banking services
- Money transfer
- Bill payments
- Recharge
- Retailer/agent services
Spice Money's own website highlights its banking-services ecosystem and partnerships with financial institutions. Spice Money
2. PayNearby
PayNearby is a major retail-focused digital financial-services platform.
Businesses and retailers may evaluate it for:
- AEPS
- Digital banking
- Recharge
- Bill payments
- Insurance
- Micro-ATM-related services
- Retailer services
Its large retailer network makes it a commonly considered option when comparing AEPS service providers. AEPS Service
3. Fino Payments Bank
Fino Payments Bank operates within a regulated payments-bank framework and has a strong presence in assisted banking and financial inclusion.
Potential areas include:
- AEPS
- Merchant banking
- Assisted banking
- Financial inclusion
- Micro-ATM services
- Rural banking
Fino is particularly relevant when comparing banking-led ecosystems with independent AEPS technology providers.
4. RapiPay
RapiPay is a fintech platform focused on B2B and assisted financial services.
Its ecosystem has included:
- AEPS
- Money transfer
- Recharge
- Bill payment
- Retailer services
- Distributor networks
- Digital financial services
RapiPay appears consistently across current industry comparisons of AEPS providers. NobleWebStudio
5. Bankit
Bankit is another fintech platform commonly included in AEPS company lists.
Businesses can evaluate its ecosystem for services such as:
- AEPS
- Money transfer
- Recharge
- Bill payments
- Retailer services
- Digital financial services
It can be considered by retailers and B2B businesses looking for a broader multi-service fintech platform.
6. Biznext
Biznext is a B2B fintech platform that offers multiple digital financial services.
Its service ecosystem can include:
- AEPS
- Micro ATM
- Domestic money transfer
- Recharge
- Bill payment
- PAN services
- Retailer services
Recent 2026 industry lists include Biznext among AEPS service providers. Biznext
7. NSDL Payments Bank
NSDL Payments Bank is another name that appears in AEPS provider comparisons.
As a payments-bank ecosystem, it should be distinguished from independent software companies that provide AEPS APIs or white-label technology.
When evaluating such a provider, businesses should check the specific services currently available, merchant onboarding requirements, settlement process, and applicable terms.
8. Airtel Payments Bank
Airtel Payments Bank has a large distribution ecosystem and provides digital banking services through its network.
It can be considered for businesses looking for:
- Assisted banking
- AEPS-related services
- Digital payments
- Merchant services
- Financial services
The exact availability of AEPS services should be confirmed with the provider before integration.
9. Ezeepay
Ezeepay is another company appearing in recent AEPS service-provider lists.
Its platform is associated with services such as:
- AEPS
- Recharge
- Bill payment
- Retailer services
- Digital financial services
Recent industry content lists Ezeepay among AEPS providers and fintech platforms. Ezeepay Blog
10. RNFI / Relipay
RNFI and its Relipay ecosystem are also relevant names when researching B2B financial-service providers.
Potential areas to evaluate include:
- AEPS
- Money transfer
- Retailer network
- Distributor network
- Financial inclusion
- Digital transactions
- B2B fintech services
Other AEPS Companies to Consider
Depending on your business requirements, you may also encounter:
- CSC DigiPay
- Noble Web Studio
- Eko India Financial Services
- Roinet
- Mobisafar
- Sahipay
- Payworld
- InstantPay
- PayPoint
- Oxigen
Different industry lists contain different companies because the AEPS market includes banks, fintech platforms, Business Correspondent networks, technology providers, and software/API companies. Aeps India
AEPS Service Provider Company Comparison
| Company | AEPS | B2B Focus | Retail Network | Multi-Service |
|---|---|---|---|---|
| Spice Money | Yes | Yes | Strong | Yes |
| PayNearby | Yes | Yes | Strong | Yes |
| Fino Payments Bank | Yes | Yes | Strong | Yes |
| RapiPay | Yes | Strong | Yes | Yes |
| Bankit | Yes | Yes | Yes | Yes |
| Biznext | Yes | Strong | Yes | Yes |
| NSDL Payments Bank | Yes/subject to current offering | Yes | Yes | Yes |
| Airtel Payments Bank | Yes/subject to current offering | Yes | Strong | Yes |
| Ezeepay | Yes | Yes | Yes | Yes |
| RNFI / Relipay | Yes | Strong | Yes | Yes |
Note: This is a high-level comparison, not an official ranking or certification. Current services, partnerships, pricing, commissions, settlement arrangements, and eligibility should be confirmed directly with each provider.
How to Choose an AEPS Service Provider Company
Choosing an AEPS company should involve more than comparing commissions.
1. Check API Reliability
For businesses developing their own application, verify:
- API documentation
- API response time
- Transaction status API
- Callback/webhook support
- Error handling
- Sandbox
- API logs
- Production support
2. Check Transaction Success and Status Management
A good platform should properly manage:
- Successful transactions
- Failed transactions
- Pending transactions
- Reversed transactions
- Timeouts
- Duplicate requests
- Status checks
This becomes increasingly important as transaction volume grows.
3. Compare Commission Structure
Check:
- Retailer commission
- Distributor commission
- Service-wise commission
- Transaction slabs
- Settlement charges
- Additional fees
- Refund/reversal policies
Do not choose a provider purely because it advertises the highest commission.
4. Check Retailer and Distributor Management
For a B2B AEPS business, look for:
- Retailer onboarding
- Distributor hierarchy
- Wallet management
- Commission management
- Transaction reports
- User permissions
- Service activation/deactivation
A typical structure can be:
Admin → Master Distributor → Distributor → Retailer → Customer
5. Check Wallet and Ledger
A reliable fintech platform should maintain accurate records of:
- Credits
- Debits
- Commissions
- Transactions
- Refunds
- Reversals
- Adjustments
- Closing balance
6. Check Reconciliation
Reconciliation helps identify differences between platform records and relevant transaction or settlement records.
Important features include:
- Transaction matching
- Settlement reports
- Failed transaction tracking
- Reversal tracking
- Dispute management
- Daily reports
AEPS API Provider vs AEPS Service Provider
These terms are often confused.
AEPS API Provider
Provides API connectivity that allows an application or software platform to integrate supported AEPS services.
AEPS Service Provider
May offer a complete platform containing:
- AEPS
- Retailer app
- Distributor panel
- Admin dashboard
- Wallet
- Commission
- Reports
- Support
AEPS Software Development Company
Builds customized technology around your business requirements.
For example:
AEPS API + Admin Panel + Retailer App + Distributor Portal + Wallet + Commission + Reports
This distinction is important when searching an AEPS service provider company list because not every company in an online list performs the same role.
White Label AEPS Software
Businesses planning to create their own fintech brand can consider a white-label AEPS solution.
A white-label platform may include:
- Custom logo
- Custom domain
- Branded mobile app
- Admin panel
- Retailer panel
- Distributor panel
- AEPS API integration
- Wallet
- Commission management
- Transaction management
- Reports
- Reconciliation
- Notifications
This approach can reduce the development time required to create a complete fintech platform.
AEPS and the NPCI Ecosystem
AEPS is a bank-led model developed by NPCI. NPCI's official AEPS member page lists participating banks and their capabilities, including ON-US and OFF-US services, Aadhaar authentication capabilities, and other supported functions. NPCI
Therefore, when evaluating an AEPS service provider, businesses should understand whether they are dealing with:
- A participating bank,
- A Business Correspondent or authorized channel,
- A technology/API provider,
- A fintech platform, or
- A software development company.
This distinction helps businesses make more informed decisions about partnerships and compliance.
Build Your Own AEPS Fintech Platform
If your goal is not simply to use another company's AEPS application but to create your own fintech platform, you may need a more complete technology solution.
A custom platform can include:
- AEPS API integration
- Admin dashboard
- Retailer management
- Distributor management
- Wallet and ledger
- Commission engine
- Transaction management
- Reconciliation
- Reports
- Mobile application
- Web portal
- Role-based permissions
- Notifications
- Other fintech APIs
Dot Core Solution provides software development capabilities across web applications, mobile applications, fintech software, and B2B solutions.
You can explore Dot Core Solution's fintech software for businesses planning a broader digital financial-services platform.
For additional fintech and software development articles, visit the Dot Core Solution Blog.
Why Custom AEPS Software Can Be Useful
A ready-made AEPS platform may work well for a retailer or small business.
However, a growing fintech company may require customized functionality such as:
- Multiple API integrations
- Custom retailer hierarchy
- Custom commission rules
- Advanced wallet architecture
- Automated reconciliation
- Custom reports
- Mobile application
- Distributor dashboard
- Custom notifications
- Role-based access
- Multi-service integration
Custom software gives the business more control over the platform's functionality and future expansion.
Final Thoughts
An AEPS service provider company list can be useful when researching potential technology and financial-service partners, but businesses should not select a provider based only on its position in an online list.
Companies such as Spice Money, PayNearby, Fino Payments Bank, RapiPay, Bankit, Biznext, NSDL Payments Bank, Airtel Payments Bank, Ezeepay, and RNFI/Relipay are among the names commonly found in recent industry comparisons. Biznext
The best choice depends on your requirements for AEPS API integration, transaction reliability, retailer management, distributor management, wallet, commission, settlement, reconciliation, security, scalability, technical support, and additional fintech services.
Before signing an agreement, verify the provider's current service availability, authorization structure, banking relationships, pricing, settlement terms, and applicable compliance requirements.
