PM Narendra Modi to launch new digital payment solution e-RUPI on August 2

PM Narendra Modi

Prime Minister Narendra Modi will launch a person and purpose specific digital payment solution e-RUPI on August 2, via video conferencing.

The government is aiming to take forward the concept of electronic voucher with a vision of good governance.

Apart from being a cashless and contactless instrument for digital payment, e-RUPI is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries.

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"The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider," the PMO statement said on July 31.

e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. It also ensures that the payment to the service provider is made only after the transaction is completed, the statement added. Being pre-paid in nature, e-RUPI assures timely payment to the service provider without involvement of any intermediary, the government said.

The government is expecting the mechanism to ensure a leak-proof delivery of welfare services. It can also be used for delivering services under schemes meant for providing drugs and nutritional support, or diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, etc. Also, private firms too cam leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes, the PMO said.

The new digital payment solution been developed by National Payments Corporation of India (NCPI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.