The service will scale across Spice Money’s 16 lakh+ Adhikari network; It brings interoperable cash deposits across participating banks, expanding access to convenient last-mile banking
FinTech BizNews Service
Mumbai, 15 September 2026: Spice Money, India’s leading rural fintech company and a subsidiary of DigiSpice Technologies Limited, today announced the launch of NPCI’s AePS three-party cash deposit service, introduced at Global Fintech Fest (GFF) 2026.
The service enables customers to deposit cash into the Aadhaar-linked bank account of another registered beneficiary, such as a family member, through a Spice Money Adhikari. Unlike traditional AePS cash deposits that enable customers to deposit money into their own accounts, the three-party service enables deposits into another person’s bank account, with Aadhaar-based authentication and beneficiary verification.
The service will expand across Spice Money’s 16 lakh+ Adhikari network, bringing greater convenience to customers, particularly in rural and underserved areas where access to conventional banking infrastructure may be limited.
Dilip Modi, Founder and CEO, Spice Money, said, “ Technology and India’s digital public infrastructure are fundamentally changing how people access financial services.. AePS is connecting people to their banks through Aadhaar, allowing them to withdraw cash, deposit cash and access essential banking services at merchant points close to them. Just as UPI is driving payments convenience through smartphones, we are driving banking convenience through Aadhaar and bank accounts. The three-party cash deposit service takes this a step further by enabling people to deposit cash into the bank accounts of their family members and other beneficiaries through a Spice Money Adhikari close to them.”
The launch further strengthens Spice Money’s assisted banking ecosystem, expanding the range of financial services available through its Adhikari network while creating additional earning opportunities for its last-mile partners.
The initiative builds on Spice Money’s focus on leveraging technology and India’s digital public infrastructure to simplify financial services access across Bharat, alongside innovations such as Ojas, its human-like Agentic AI Executive, which enables Adhikaris and merchants to interact with financial services through natural voice and face-to-face video conversations in nine Indian languages.
