Highlights:
- e-RUPI is a cashless and contactless digital payment method that will be delivered to beneficiaries’ phones by SMS or QR code.
- The new digital payment platform e-RUPI, according to the PMO, is expected to be a game-changer in terms of ensuring leak-proof delivery of welfare services.
At 4 p.m. today, Prime Minister Narendra Modi will use video conferencing to launch e-RUPI, a digital payment platform. The platform promises to be a person and purpose-specific digital payment system, created by the National Payments Corporation of India in partnership with the Department of Financial Services, and National Health Authority and Ministry of Health & Family Welfare.
Digital technology is transforming lives in a major way and is furthering ‘Ease of Living.’ At 4:30 PM tomorrow, 2nd August, will launch e-RUPI, a futuristic digital payment solution which offers several benefits for its users. https://t.co/UpLgtBl1K3
— Narendra Modi (@narendramodi) August 1, 2021
According to the PMO, it is projected to be a game-changing initiative aimed at ensuring the delivery of leak-proof welfare services.
On Sunday, Prime Minister Modi sent out a tweet, “Digital technology is transforming lives in a major way and is furthering ‘Ease of Living.’ At 4:30 PM tomorrow, 2nd August, will launch e-RUPI, a futuristic digital payment solution that offers several benefits for its users.”
Some of the benefits of e-RUPI are:
— Narendra Modi (@narendramodi) August 1, 2021
Cashless and contactless digital payment.
Connects service sponsors and beneficiaries digitally.
Ensures leak-proof delivery of various welfare services.
Some of the benefits of e-RUPI are:
1. e-RUPI is a contactless and cashless electronic payment system.
2. Provides a digital link between service sponsors and beneficiaries.
3. Assures that various social services are delivered in a leak-proof manner.
4. It is a QR code or SMS string-based e-voucher sent to the beneficiaries’ mobile phones.
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5. Users of this one-time payment method will be able to withdraw the voucher at the service provider without the need for a card, internet banking, or a digital payments app.
6. e-RUPI creates a digital linkage between service sponsors, beneficiaries, and providers, removing the requirement for a physical interface.
7. It also guarantees that the service provider is paid only when the transaction is completed.
8. It enables fast payment to the service provider without the need for an intermediary because it is pre-paid.
9. It can be used for services such as providing medicines and nutritional assistance under maternal and child welfare schemes, TB eradication programmes, medicines and diagnostics under schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidy, and so on, in addition to regular payments.
10. Employee welfare and corporate social responsibility programmes in the private sector can also benefit from these digital vouchers.
