e-Rupi Launched in India Today: All You Need to Know

NEW DELHI: Prime Minister Narendra Modi launched a purpose-specific digital payments solution e-Rupi today.

Further, the Prime Minister said that the Prime Minister has always championed digital initiatives and e-Rupi is one such venture.

WHAT IS E-RUPI?

E-Rupi is a cashless and contactless instrument for digital payment. It is either QR code-based or SMS string-based e-voucher. This voucher when generated will reach the mobile of the beneficiaries. This voucher can be redeemed without a card, digital payments app or internet banking access.

This seamless one-time payment mechanism connects the sponsors of the services with the beneficiaries and service providers. It also ensures that payment to the service provider is made only after the transaction is completed.

E-RUPI BENEFITS

It is pre-paid in nature and assures timely payment to the service provider without the involvement of any intermediary.

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, fertiliser subsidies etc.

Private sectors too can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes, the statement said.

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