e-RUPI another cashless and contactless digital payments medium is set to launch in India today. The new digital currency will be introduced by Prime Minister Narendra Modi.
e-RUPI an electronic voucher-based digital payment system has been developed by the National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare and the National Health Authority. Some of the benefits include cashless and contactless digital payment, connect service sponsors and beneficiaries digitally and it also ensures leak-proof delivery of various welfare services.
Those who are unaware e-RUPI is a cashless and contactless digital payments medium that will be launched today at 4.30 PM in India by Prime Minister Narendra Modi. The PM’s tweet reads, “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.”
The launch event will be live-streamed digitally via all the social media channels (Twitter, Facebook and YouTube). For your convenience we have embedded the link below:
Like we told you that e-RUPI is a cashless and contactless instrument for digital payment and it is a QR code or SMS string-based e-Voucher. This is delivered to the mobile of the beneficiaries and the people in India can be benefited from this seamless one-time payment mechanism to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
e-RUPI 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 & Family Welfare and National Health Authority. The new digital payments solution also lets you connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. In addition to this, it also sets the seal on 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.
This is an initiative that will ensure a leak-proof delivery of welfare services. It allows 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.
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