Making financial products and services low-cost, accessible and affordable for low-income groups and businesses is known as financial inclusion. Banks use CSP banking points which, after getting CSP Registration, provides such services.
The majority of poor Indians live in the village area. These poor people are unable to connect to banking services. These poor people give up on these opportunities. This is where Bank CSP Provider can help them provide access to the banking system by providing associated services.
Services provided by Bank CSP Provider:-
• Send money to your bank account
• Inquiries regarding IMPS transactions/balances
• Fixed Deposit / E-KYC
• Pay cash
• Mini ATM
• Aadhaar Payment System (AEPS Facility)
• Withdrawal card / ID card
• Loan deposit / Fixed deposit
• Social Security System (PMJJY, PMSBY, APY)
• Insurance Service
• Online payment transfer
• Bank Loan
What kind of documents do you need for CSP registration?
• Police confirmation (within six months of age)
• Application form
• Two passport-sized personal photos
• PAN card (required)
• Identity card (voter ID / driver’s license / passport, etc.)
• Proof of store address
• Address proof (electricity bill, power distribution card, etc.)
• NPD account
• Innovative digital banking service with e-MITRA
Who can start the kiosk banking system?
Store owners, retailers, small business owners, and even individuals can apply to set up a standing kiosk. The eligibility criteria for Bank CSP Provider are:
• Minimum age: 18 years old
• Qualifications: The person must have passed the secondary exam
• Minimum space required to install a kiosk: 100-200 square meters. leg
• Applicants need to make sure that their computers and internet are available.
Store owners or small business owners can incorporate to get CSP Registration that requires the small business to have an MSME registration. Banks must provide the equipment needed to set up a kiosk using this, such as kiosks, fingerprint scanners, and computer-compatible software.
Kiosk banking registration procedure:
• First, the customer needs to open an account without luxury.
• Next, they need to proceed to Know Your Customer Verification (KYC).
• The corresponding bank performs the KYC verification process and validates the submitted documents.
• Once the KYC process is complete, individuals are free to use their accounts to trade.