Prime Minister Narendra Modi launched e-RUPI, a person and purpose-specific digital payment solution, on Monday. E-RUPI is an example of how India is moving forward and connecting people in the 21st century with the help of advanced technology, PM Modi said speaking at the virtual launch event.
"E-RUPI is an example of how India is moving forward and connecting people in the 21st century with the help of advanced technology. I'm glad that it has started in the year when India is celebrating its 75th year of Independence," he said.
"E-Rupi voucher will play a role in boosting digital transactions and DBT in the country. This will help everyone in targeted, transparent and leakage free delivery," PM Modi added. "Not only govt but if a non-govt organisation wants to support anyone in their education or medical treatment, then they can use e-RUPI instead of giving cash. This will assure that the amount donated is being used only for the said work," the prime minister said.
According to the Prime Minister's Office (PMO), e-RUPI is a cashless and contactless instrument for digital payment. It said that e-RUPI is a concept of electronic vouchers that take forward the Prime Minister's vision of good governance.
Underlining that PM Modi has always championed digital initiatives, the PMO said that several programmes have been launched over the years to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary.
It is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries. The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
What is e-RUPI?
- e-RUPI is a cashless and contactless instrument for digital payment developed by the National Payments Corporation of India
- Connects sponsors of the services with beneficiaries and service providers in a digital manner without any physical interface
- Assures timely payment without the involvement of any intermediary
- It can also be used for delivering services meant for providing drugs and nutritional support under Mother and Child welfare schemes, TV eradication programmes etc
The PMO said that 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 statement said e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. It also ensures that 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. The PMO said it is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
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. Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.