India launches e-RUPI

Agencies | New Delhi

The Daily Tribune – www.newsofbahrain.com

Giving a further boost to the digital payment system in the country, Indian Prime Minister Narendra Modi launched e-RUPI yesterday. The electronic voucher-based digital payment system has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

“The launch of e-RUPI is in line with our efforts to make India a leader in Fintech and leverage technology to boost ‘Ease of Living,’” Modi said in a statement.

He added: “Thanks to technology, things which were earlier deemed impossible have become a reality. Through eRUPI, numerous tech solutions, particularly in healthcare will be available.” E-Rupee is a cashless and contactless means of digital payment. It is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries.

With the help of e-RUPI payment service, a user will be able to redeem the voucher without a card, digital payments app, or internet banking access.

How do e-RUPI works?

E-Rupee connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. It also ensures that payment is made to the service provider only after the transaction is completed. E-Rupee is pre-paid in nature, so it assures timely payment to the service provider without the involvement of any intermediary.

Where can e-RUPI be used?

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 & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies etc.

Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.