e-RUPI to be launched today by PM Modi—All you need to know about this cashless, DIGITAL PAYMENT solution developed by NPCI

Prime Minister Narendra Modi will launch e-RUPI, a prepaid e-Voucher, on Monday, July 2. The Prime Minister will be launching the digital payment solution through video conferencing at 4 pm. The aim behind the launch of e-RUPI is to ensure that the benefits from the Government reach its intended beneficiaries in a targeted & leak-proof manner. 

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What is e-RUPI? 

e-RUPI is a cashless and contactless instrument for digital payment developed by National Payment Corporation of India 

प्रधानमंत्री श्री @narendramodi 2 अगस्त 2021 को वीडियो कॉन्फ्रेंसिंग के माध्यम से ‘ई-रुपी’ लॉन्‍च करेंगे जो सही अर्थों में व्यक्ति-विशिष्ट और उद्देश्य-विशिष्ट डिजिटल पेमेंट सॉल्‍यूशन है

विवरण: https://t.co/9P3vsofcl5 pic.twitter.com/jSM52mAWjo

— PIB in Rajasthan (@PIBJaipur) August 1, 2021

How e-RUPI works? 

It connects sponsors of the services with beneficiaries and services providers in a digital manner without any physical interface. It also assures timely payment of without involvement of any intermediary. I can also be used for delivering services meant for providing drugs and nutritional support under Mother and Child Welfare schemes, TB eradication programmes etc.  

Who developed e-RUPI? 

National Payments Corporation of India (NPCI) in association with Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’. 

What NPCI says about e-RUPI and its functioning? 

As per NPCI, 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 merchants accepting e-RUPI. e-RUPI would be shared with the beneficiaries for a specific purpose or activity by organizations or Government via SMS or QR code. 

"This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. The entire transaction process through this voucher is relatively faster and at the same time reliable, as the required amount is already stored in the voucher," it said.