e-RUPI: 8 things to know about India’s new digital payment solution to be launched today
e-RUPI is a cashless and contactless instrument for digital payment.
August 02, 2021 / 09:37 AM IST
Prime Minister Shri Narendra Modi is set to launch digital payment solution e-RUPI on August 2. As per a statement from the PMO, the government is aiming to take forward the concept of electronic voucher with a vision of good governance.
In addition to 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.
Things to know about e-RUPI
- The users of this 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.
- e-RUPI has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.
- e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
- The payment system also ensures that the payment to the service provider is made only after the transaction is completed.
- As e-RUPI is prepaid in nature, it assures timely payment to the service provider without the involvement of any intermediary, a PMO statement said.
- PMO said that e-RUPI is aimed at ensuring a leak-proof delivery of welfare services.
- The payment mechanism can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies etc.
- Besides, the private sector can also use these digital vouchers as part of their employee welfare and corporate social responsibility programmes.