Prime Minister Narendra Modi launched a new digital payment mode — e-RUPI. The digital voucher aims to ensure that the government’s monetary benefits directly reach citizens in a ‘leak-proof’ manner. “Today the country is giving a new dimension to digital governance. e-RUPI voucher is going to play a huge role in making DBT more effective in digital transactions in the country. This will help everyone in Targeted, Transparent and Leakage Free Delivery,” Prime Minister Narendra Modi said.
The launch of e-RUPI is in line with our efforts to make India a leader in Fintech and leverage technology to boost ‘Ease of Living.’ pic.twitter.com/NGsWfJepZX
— Narendra Modi (@narendramodi) August 2, 2021
Under this new payment system, the beneficiaries will get an electronic voucher or coupon that can be used without online banking, payment applications, and other traditional payment modes. In a simpler language, e-RUPI, the new digital payment mode, is a QR code or SMS string-based e-voucher. The digital coupons, similar to Sodexo vouchers, have been developed by the (NPC) National Payments Corporation of India in collaboration with the department of financial services, ministry of health and family welfare, and national health authority.
PM Modi launched an e-RUPI digital payment solution
e-RUPI Digital Payment: Benefits
e-RUPI payment mode is not related to any app or mobile banking. So anyone with any phone can access these electronic coupons. The user can redeem the SMS voucher at the service provider. The payment to the provider will be processed only when the transaction is complete. The prepaid nature of this payment ensures timely payment to the service provider without the involvement of any intermediary.