PM Modi to introduce e-RUPI, a Digital Payment Solution
Today, Prime Minister Narendra Modi will launch e-RUPI, a person and purpose-specific digital payment solution. Conferring to the Prime Minister's Office (PMO), e-RUPI is a cashless and contactless instrument for digital payment. It is said that e-RUPI is a concept of electronic coupons that revenue forwards the Prime Minister's vision of good governance.
Emphasizing that PM Modi has always supported digital initiatives, several programs have been launched over the years to guarantee that the assistances reach its envisioned receivers in a targeted and leak-proof manner, with limited touch influences amid the government and the beneficiary.
It is a QR code or SMS string-based e-voucher, which is carried to the mobile of the beneficiaries. The users of this unified one-time payment tool will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
The PMO said, “e-RUPI has been developed by the National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority. The statement said 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.”
Being pre-paid in nature, it guarantees timely payment to the service provider without the participation of any midway. The PMO said it is predictable to be a radical enterprise in the course of confirming a leak-proof distribution of prosperity services.
It can also be used for transporting services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programs, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc. Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programs.