PM Modi to launch e-RUPI today
e-RUPI is a digital payment platform, which has been made completely cashless and contactless. This digital platform will ensure that payment is made to the service provider only after the transaction is completed. Let us know what is e-RUPI, how it will work and where it can be used.
What is e-RUPI?
e-RUPI has been developed by the National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority on its UPI platform. It is a completely cashless and contactless means of digital payments.
What are its benefits?
- Users of the system will be able to receive the voucher amount at their service provider’s center without having to access the card, digital payment app or internet banking.
- e-RUPI connects sponsors of services with beneficiaries and service providers in a digital manner without any physical interface.
- It also ensures that payment is made to the service provider only after the transaction is completed.
- Being pre-paid, it is possible to make timely payments to the service provider without the intervention of any intermediary.
- This digital payment solution can be a revolutionary initiative towards ensuring corruption-free delivery of welfare services.
Where can e-RUPI be used?
It can be used to provide services under schemes like providing medicines and nutritional assistance under maternal and child welfare schemes, TB eradication programmes, medicines and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidy, etc.
Even the private sector can use these digital vouchers under its employee welfare and corporate social responsibility programmes.
How does it work?
e-RUPI is a prepaid e-voucher. It works as an e-voucher based on QR code or SMS string, which is delivered to the mobile phones of the beneficiaries. The platform will allow users to redeem vouchers without having to use cards, digital payment apps or internet banking access. E-Rupee connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
