PM Modi Introduces e-RUPI digital payment solution

File image of Prime Minister Narendra Modi. ANI

Prime Minister Narendra Modi will present a customized and specific solution for digital payments via e-RUPI and video conference on Monday (2 August 2021) at 16:30.

What is e-RUPI?

  • e-RUPI is a non-cash and contactless digital payment tool. This is a QR code or SMS based email voucher sent to the recipient's mobile phone. Users of this one-time payment mechanism can exchange coupons with cardless payment service providers, digital payment apps, or access online banking.

  • It was developed on the UPI platform by the National Payments Corporation of India in collaboration with the Ministry of Financial Services and the Ministry of Health.

  • We hope this will be a revolutionary initiative to provide a limited number of social services. It can also be used to provide services for drug delivery and maternal and child health systems, tuberculosis eradication programs, and drug-based nutritional support. 

  • e-RUPI is simple, secure and reliable because the recipient's data is completely confidential. The entire transaction process using this voucher is relatively fast and at the same time reliable, since the required amount is already stored in the voucher.

 

What are the company benefits of e-RUPI?

Companies can also use e-RUPI:

  • The company can take care of the well-being of its employees

  • Reduces costs by eliminating the need for end-to-end digital transactions and physical withdrawals.

  • Issuers can track voucher redemption.

  • Fast and secure dispensing of contactless vouchers

What are the benefits of e-RUPI to hospitals?

e-RUPI can provide the following hospital benefits:

  • Simple and safe. Vouchers are accepted with a confirmation code. Contactless and contactless collection of payments - no money or card processing required.

  • Quick redemption process  - Vouchers can be redeemed in multiple steps and exchanged for a lower amount due to the pre-blocked amount.

What are the benefits of e-RUPI for consumers?

  • Contactless - recipients do not need to have printed vouchers with them. Easy Redemption - Two Step Payment Process.

  • Safe and Secure - Confidentiality is maintained because recipients do not need to disclose personal information at the time of purchase.

  • No digital presence or bank required - Users don't need a digital payment app or bank account to redeem a voucher.

The banks linked with:

Axis Bank

Bank of Baroda

Canara Bank

HDFC Bank

ICICI Bank

IndusInd Bank

Indian Bank

Kotak Bank

Punjab National Bank

State Bank of India

Union Bank of India

More

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