The e-RUPI is a digital solution launched by Prime Minister Narendra Modi to allow cashless payment solution for COVID-19 vaccination. The State Bank of India (SBI) has recently tweeted about the e-RUPI voucher from its official Twitter handle to make its customers aware of the uses of the e-RUPI voucher.

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The tweet from the official Twitter handle of SBI said, "Do you know about e-RUPI voucher? It's a cashless payment solution for COVID-19 vaccination and many more. For more details, visit - india.gov.in/spotlight/e-rupi-digital-payment-solution."

 

The e-RUPI prepaid e-voucher is the digital coupon to make cashless and cardless transactions. The various purposes for which the e-RUPI voucher can be used include vaccination, direct benefit transfer, scholarship and many more.

A user can easily redeem an e-RUPI voucher by following two simple steps. One has to simply show the e-RUPI voucher SMS/ QR code to the merchant and share the verification code received on the registered mobile number.

The benefits of using e-RUPI vouchers for the end users are as follows:

1) Contactless - Beneficiary need not carry a printout of the e-voucher
2) Easy redemption - It is a 2-step redemption process
3) Safe and Secure - Beneficiaries do not need to share personal details and hence their privacy is maintained
4) Only mobile phone and e-voucher required - Users redeeming the voucher need not have a digital payment app or a bank account

The banks lined up with e-RUPI includes State Bank of India, HDFC Bank, Axis Bank, Punjab National Bank, Bank of Baroda, Canara Bank, IndusInd Bank and ICICI Bank.

The benefits of the e-RUPI voucher for the corporates are as follows:

1) The corporates can enable well-being of their employees by distributing the UPI Prepaid Vouchers
2) It is an end-to-end digital transaction and does not require any physical issuance (card/voucher) hence leading to cost reduction
3) Visibility for voucher utilisation - Voucher redemption can be tracked by the issuer
4) Quick, safe and contactless voucher distribution

The benefits of the hospitals are as follows:

1) Easy and Secure - Voucher is authorised via a verification code shared by the beneficiary
2) Hassle free and contactless payment collection - Handling of cash or cards is not required
3) Quick redemption process - The e-voucher can be redeemed in a few steps and lesser decline due to pre-blocked amount