e-RUPI Digital Payment Solution Launched in India by PM Modi

Prime Minister Narendra Modi on Monday launched e-RUPI, an electronic voucher promoting digital payment solution.

As per Prime Minister's Office, 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 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," the official statement said.

The instrument 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 and 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 assures timely payment to the service provider without the involvement of any intermediary.

The release said e-RUPI is expected to be a revolutionary initiative for ensuring a leak-proof delivery of welfare services.

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 besides fertilizer subsidies.

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