Digital Payment Solution e-RUPI: LAUNCHED by PM Narendra Modi! BIG FEATHER in Digital India campaign's cap | What it is? Benefits for users? and more

Digital Payment Solution e RUPI launch by PM Narendra Modi: In a big and very important development, Prime Minister Narendra Modi on Monday launched e-RUPI, a person and purpose specific digital payment solution, on Monday via video conferencing.

PM मोदी ने लॉन्च किया 'e-RUPI'#NarendraModi https://t.co/hTWaTvk64O

— Zee Business (@ZeeBusiness) August 2, 2021

During the launch, PM Narendra Modi said, "e-RUPI is an example of how India is moving forward & connecting people in the 21st century with the help of advanced technology. I'm glad that it has started in the year when India is celebrating its 75th year of Independence."

"E Rupi voucher will play a role in boosting digital transactions & DBT in the country. This will help everyone in targetted, transparent & leakage-free delivery," PM Narendra Modi said.

Earlier, PM Narendra Modi's office had said, "Underlining that Modi has always championed digital initiatives, the Prime Minister's Office said over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary."

The concept of electronic voucher takes forward this vision of good governance, it added.

What is e-RUPI?

In its statement, the PMO said e-RUPI is a cashless and contactless instrument for digital payment. It is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries, the statement said.

How users will benefit from e-RUPI?

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, it said.

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 assures timely payment to the service provider without involvement of any intermediary, the statement said.

It 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 and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc.

Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes, the statement said. 

e-RUPI: Development

It 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.

REVOLUTIONARY!

The PMO said it is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.