Prime Minister Narendra Modi (Narendra Modi) launched e-RUPI on Monday, an electronic voucher that promotes digital payment solutions.
According to the Prime Minister’s Office, e-RUPI is a non-cash and contactless tool for digital payments.
“It is an electronic voucher based on a QR code or text message string and sent to the beneficiary’s mobile phone. This seamless one-time payment mechanism will be able to provide users without a card, digital payment application or service provider. The commercial office visits online banking,” the official statement said.
The tool was developed by the National Payment Corporation of India on its UPI platform in cooperation with the Ministry of Financial Services, the Ministry of Health and Family Welfare, and the National Health Service.
The statement stated that e-RUPI digitally connects the initiator of the service with the beneficiary and service provider without any physical interface.
It also ensures that payment is made to the service provider only after the transaction is completed.
It is prepaid in nature and can ensure timely payment to the service provider without the involvement of any intermediary.
The press release stated that e-RUPI is expected to become a revolutionary measure to ensure the provision of leak-free welfare services.
In addition to fertilizer subsidies, it can also be used to provide medication and nutritional support under the Maternal and Child Benefit Plan, Tuberculosis Eradication Plan, Medicine and Diagnosis Plan, such as Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana, etc.
The press release stated that the private sector can also use these digital vouchers as part of its employee benefits and corporate social responsibility programs.