PM Modi to launch e-RUPI digital payment solution on August 2

Khevna.P.Shah, INN/Bangalore

@Shahkhevna1, @Infodeaofficial

e-RUPI could also be a cashless and contactless instrument for digital payments. It works as an e-voucher supported by a QR code or SMS string, which is delivered to the mobile phones of the beneficiaries

Prime Minister Narendra Modi will launch e-RUPI, an e-voucher-based digital payment solution, on August 2, Monday, through video conferencing.

The e-RUPI initiative is going to be one of the programs launched over the years to limit touchpoints between the govt and therefore the beneficiary and “ensure that the advantages reach its intended beneficiaries during a targeted and leak-proof manner”, said the Prime Minister’s Office.

It is a cashless and contactless instrument for digital payments. It acts as an e-voucher supported by a QR code or SMS string, which is delivered to the mobile phones of the beneficiaries. It connects the sponsors of the services with the beneficiaries and repair providers in a digital manner with no physical interface. It also ensures that the payment to the service provider is made only after the transaction is completed. Being prepaid, it assures timely payment to the service provider without the involvement of any intermediary.

The purpose of this new payment mechanism is to form sure that the govt. can extend monetary support to citizens during a “leak-proof manner” within the type of a prepaid e-voucher powered by UPI. Developed by the National Payments Corporation of India, e-RUPI may be a cashless and contact-less instrument that’s supported by QR code or SMS-based e-Voucher, which is delivered to the cellphones of beneficiaries. this will be redeemed directly with the service provider.

The one-time payment mechanism of e-RUPI will allow users to redeem the voucher without a card, digital payments app, or internet banking access, at the service provider.

The e-RUPI platform has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, together with the Department of monetary Services, Ministry of Health and Family Welfare, and National Health Authority.

“It is predicted to be a revolutionary initiative within the direction of 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 programs, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc,” PMO stated.

It added that even the private sector can leverage these digital vouchers as a neighborhood of their employee welfare and company social responsibility programs.

Speaking at the launch of the new platform, Modi said that the e-RUPI voucher goes to play a significant role in strengthening the direct benefit transfer (DBT) scheme by the govt. . He further said e-RUPI will help in assuring targeted, transparent and leakage-free delivery for all.

Even the private sector can leverage these digital vouchers as a neighborhood of their employee welfare and company social responsibility programs,” added the statement.