Tuesday, November 30, 2021
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Tuesday, November 30, 2021
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PM Modi Launches e-RUPI A Digital Payment Solution Via Video Conferencing

Prime Minister Narendra Modi introduced e-RUPI, a person- and purpose-specific digital payment solution, via video conferencing at 4:30 p.m. on Monday.

What is e-RUPI
e-RUPI is a cashless and contactless digital payment system. It is a QR code or SMS string-based e-Voucher that is sent to the beneficiaries’ mobile phones.

Users of this seamless one-time payment mechanism will be able to redeem the voucher at the service provider without the usage of a card, digital payments app, or internet banking access.

It was created in partnership with the Department of Financial Services, Ministry of Health & Family Welfare, and National Health Authority using the National Payments Corporation of India’s UPI platform.

How does the e-RUPI digital payment work
e-RUPI establishes a digital link between service sponsors with the beneficiaries and service providers, eliminating the need for a physical interface. It also ensures that the service provider is only paid when the transaction has been completed. Because it is pre-paid, it ensures prompt payment to the service provider without the need for an intermediary.

It is considered to be a game-changing initiative aimed at securing the delivery of leak-proof welfare services. It can also be used to deliver services under schemes such as the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, which provides drugs and nutritional support to mothers and children, TB eradication programmes, drugs and diagnostics under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies, and so on. According to an official announcement, the private sector can use these digital vouchers as part of their employee welfare and corporate social responsibility programmes.

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