PM Narendra Modi announces the launch of the e-RUPI digital payment solution: 10 Key Points

New Delhi: Prime Minister Narendra Modi launched e-RUPI, a person- and purpose-specific digital payment solution, on Monday.

PM Modi announced the launch of e-RUPI, an electronic voucher-based digital payment system, via video conferencing to aid targeted, transparent, and leakage-free delivery.

“e-RUPI is an example of how India is using advanced technology to move forward and connect people in the twenty-first century. I’m glad it started in the year India celebrates its 75th year of independence “PM Modi stated.

1 – e-RUPI is a cashless and contactless digital payment instrument.

2 – It is an e-Voucher based on a QR code or an SMS string.

3 – An e-RUPI voucher is not only purpose-specific, but also person-specific, ensuring that the benefit is only used for the intended purpose.

4 – The digital payment is delivered to the beneficiaries’ mobile phones.

5 – Users of this seamless one-time payment mechanism will be able to redeem the voucher at the service provider without a card, digital payments app, or internet banking access.

6 – It was created on the National Payments Corporation of India’s UPI platform in collaboration with the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority.

7 – e-RUPI connects service sponsors with beneficiaries and service providers in a digital manner, eliminating the need for a physical interface.

8 – It also ensures that payment is made to the service provider only after the transaction is completed.

9 – Because it is pre-paid, it ensures timely payment to the service provider without the involvement of any intermediary.

10 – In addition to the government, the e-RUPI voucher can be used by private individuals and entities to ensure that donations are used for the intended purpose.

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