e RUPI India
eRUPI Digital Payment System (Gateway) has been launched by Prime Minister Narendra Modi on 2nd August 2021.
It is a QR Code and SMS's based payment system. This new option of cashless and contactless digital payment has been started with the aim of enabling the common man to transfer money without any problem.
The biggest feature of its voucher is that it can be used only for the purpose for which, it was issued to the beneficiary.
Digital payment system e-RUPI Voucher will play a major role to prevent it from misusing, because it can be used for another purpose. We'll get to know in detail about e-RUPI:
What is e-RUPI and how does it work?
eRUPI Digital Payment System (Gatewary) has been launched by Prime Minister Narendra Modi on 2nd August 2021.
It is a QR Code and SMS's based payment system. This new option of cashless and contactless digital payment has been started with the aim of enabling the common man to transfer money without any hindrance.
The biggest feature of its voucher is that it can be used only for the work for which the beneficiary would like to take advantage of it.
Digital payment system e-RUPI Voucher will play a major role. Then we get to know in detail about e-RUPI:
What does eRUPI mean?
e-Rupi is a type of digital e-voucher. This will be available in the form of SMS and QR code on the beneficiary phone.
Through this system the amount will not be directly transferred to their bank account. It will be like a cash voucher which will be encased in the same type of Centre or shop for which it was issued.
eRUPI was designed keeping in mind the safety of the beneficiary. It keeps the details of the beneficiary secure systematically.
By this system not any third person can know about it except the sender and receiver of money.
This e-RUPI Digital Payment System has been developed with the help of both NHA (National Health Authority) and DFS (Department of Financial Services) and is operated on the platform of National Payments Corporation of India (NPCI).
It is a cashless and contactless digital payment system in which the beneficiary receives an SMS or QR code on his or her phone. It will work similarly to any other prepaid voucher.
It can be redeemed at any place that accepts it without the use of internet banking, debit or credit cards, or a mobile app.
You just need to have a simple feature phone then you can get the benefit of it easily.
Transactions are done faster and more reliably through e-RUPI. The amount value of e-RUPI voucher will be already stored in it.
It connects the sponsor (an individual or business organization) of the services with the beneficiary and service providers in a digital form without any physical interface.
Advantages of e-RUPI
- Benefiits of e-RUPI: This will prevent wrongful transaction of money and its misuse. Know about the benefits of it:-
- e-RUPI has the potential to grow small businesses to take advantage of government schemes in the right way.
- It can also be tracked whether this voucher has been used or not.
- The information related to e-RUPI beneficiaries will be kept completely confidential.
- To get the benefit of this, the beneficiary does not need to have any Debit / Credit Card, Mobile App, Internet Banking or any bank account.
- This is a Prepaid Voucher due to which the real time payments will be transferred to the e-RUPI service provider.
How to get e-RUPI facility?
e-RUPI System is developed by NPCI which works with the help of UPI Platform. Many banks of the our country have been connected.
The process of connecting many banks is going on. Under this system, the bank will get the right to issue its own e-voucher.
Any bank will issue its e-Voucher on the UPI platform of its respective bank. Mainly the e-voucher will be issued by the bank itself.
Any corporation, government agency or corporate has to approach its partner bank for issue of e-vouchers.
Full particulars in whose name it is to be issued and the purpose for which the payment e-voucher is being issued will have to be provided first.
All the beneficiaries will be identified by their mobile number only, after that SMS and QR code will be given. The voucher is issued by the bank to the service provider in the name of the beneficiary.
Banks that issue e-RUPI
NPCI has so far signed deals with 11 banks for e-RUPI transactions. Their names are:-
♦ Axis Bank | ♦ Bank of Baroda | ♦ Canara Bank |
♦ ICICI Bank | ♦ HDFC Bank | ♦ Indian Bank |
♦ Indusind Bank | ♦ Kotak Mahindra Bank | ♦ Punjab National Bank |
♦ State Bank Of India | ♦ Union Bank of India |
Where will the e-RUPI be used?
NPCI has now entered into contract with more than 1600 hospitals for e-RUPI service where payments can be made through e-RUPI.
It can also be used for Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana and many other welfare schemes.
According to sources, it is being planned to be used on a large scale in the near future. After successful trials, private sector employees will also get the benefit of this scheme.
How is eRUPI different from Digital Currencies?
The main objective of starting e-RUPI is to introduce a form of digital currency in India, but in reality e-RUPI is not a digital currency.
It is a type of welfare scheme service voucher system. E-RUPI is being considered as an alternative to cryptocurrencies.
But it is quite different from cryptocurrencies which provide an opportunity to buy and trade services and essential goods, to get some kind of profit.
For information, let us tell you that this prepaid voucher will be used to provide the facility of Welfare Subsidies.
Future of e-RUPI website
NPCI is likely to launch the e-RUPI website soon. e-RUPI can be used to provide services under Ayushman Bharat Scheme, Maternity and Child Benefit Scheme, Tuberculosis Elimination Scheme and other welfare schemes.
If we talk about Indian digital currency, then only e-RUPI will be the first Indian digital currency. NPCI has been authorized to execute and control e-RUPI.
What is e-RUPI?
e-RUPI is a modern digital voucher based on SMS or QR Code. This is a new and very simple way of the Government of India to make cashless and contactless payments.
Is digital payment safe?
This voucher can be used only for the purpose for which it was issued.
If it is issued for maternity and child benefits, this voucher will be encased in hospitals and clinics where maternity and child health services are provided.
If you have been given a digital voucher of ₹ 5000 to buy fertilizer. If you want to buy fertilizer worth ₹ 3000, and clothes worth ₹ 2000, it is not possible. e-Voucher can only be used on fertilizer related stores or outlets.
How to get e-RUPI facility?
It is built on the UPI Platform. You have to use UPI to get the facility of e-RUPI.
e RUPI India download app
To download e RUPI app, please click link provided below :
CLICK HERE TO DOWNLOAD E-RUPI APP
