Digital Payment Platform e-RUPI: Prime Minister Narendra Modi has launched the digital payment solution e-RUPI on Monday through video conferencing. e-RUPI is a prepaid electronic voucher, which will be received by the user in the form of SMS or QR code and can be redeemed through a mobile app or internet banking without a credit or debit card. It has been prepared by the National Payments Corporation of India (NPCI). Through this, cashless and contactless payments can be done.
Let us tell you that the e-RUPI platform has been jointly launched by the National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare, and National Health Authority. Let us know the answers to all the questions related to this.
What is Digital Payment Platform e-RUPI?
E-Rupee is a QR code or SMS string-based e-voucher, which is delivered to the beneficiary’s mobile. Using this one-time payment mechanism, users will be able to redeem vouchers without having to access digital payment apps or internet banking. Through this, cashless and contactless payments will be done.
Where can the e-RUPI digital voucher be used?
It can be used to provide service under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, various welfare schemes. The private sector can also avail these digital vouchers in its employee welfare and CSR programs.
What are the advantages of this platform?
Corruption has been curbed due to digital payment in the country. It is a system in which transactions will be possible in a transparent and easy manner. Also, the beneficiaries get the benefits of the schemes directly without any hassle.
How to use it
It is very easy to use. Suppose you have to pay in a hospital. For this, you will have a voucher. It can be sent by the government or any person. For this, you have to first remove the voucher by opening the e-RUPI app. After this, you have to show the e-RUPI voucher in the hospital. Your voucher will be converted into a QR code. After this, the hospital staff will scan the QR code. As soon as you scan QR, you will get a verification code. Your voucher is redeemed as soon as you enter the verification code. After that your payment becomes successful.
How will the voucher be generated?
This system is built by NPCI on top of its UPI platform and will be issued by all banks. The beneficiary will be identified through the mobile number and the service provider will have to approach the bank to generate the voucher. The bank will allow the voucher to the service provider, after which this voucher will be issued to the beneficiary. As we mentioned, the beneficiary will be able to use this voucher only for the purpose for which this voucher has been issued.
Which banks will issue?
State Bank of India (SBI), ICICI Bank, HDFC Bank, Punjab National Bank (PNB), Axis Bank, and Bank of Baroda will provide both the facility to issue and redeem e-RUPI coupons. Apart from this, Canara Bank, IndusInd Bank, Indian Bank, Kotak Mahindra Bank, and Union Bank of India will issue only e-RUPI coupons for now.