Over the last few years, a kind of digital revolution has happened in India. The citizens have become more aware of the digital modes of payments which have improved the standard of living. This platform is an instrument through which its users can make digital payments. So let us understand what is e-Rupi and how it works.
What is e-RUPI?
On August 2, 2021 the Prime Minister of India Narendra Modi launched a digital payment platform called e-RUPI Digital Platform. This platform is a cashless and contactless instrument that will be used for making digital payments. It is a QR code or SMS string-based e-voucher which will be delivered to the mobile of the users. The users will be able to redeem this voucher without any digital payment app, internet banking, or card. This digital payment platform has been developed by the national payments corporation of India on its UPI platform. The collaborating partners are the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority. This initiative is connecting the sponsor of services with the beneficiaries and service providers. The connection will hold in a digital manner without any kind of physical interface.
Uses of e-RUPI
With the help of the e-RUPI platform, the payment of the service provider will be made only after the completion of a transaction. This payment platform is prepaid in nature which does not require any kind of intermediary to make payment to the service provider. Other than that this platform can also be used for delivering services under schemes that are meant for providing drugs and nutritional support like mother and child welfare scheme, TB eradication programme, drug and diagnostic under a scheme like Ayushmann Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies, etc. The private sector can also leverage these digital vouchers for their employee welfare and corporate social responsibility programs. Leak-proof revolutionary delivery of welfare services will be ensured through this initiative.
Features of e-RUPI Digital Payment
* This platform will be a cashless and contactless instrument.
* Through this system users can make digital payments through QR Code or SMS string-based e-voucher.
* This voucher will be delivered to the mobile of the users.
* Users can redeem this voucher without any payment app, internet banking or card.
*The national payment Corporation of India has developed e Rupi Digital Payment service on its UPI platform.
*The collaborating partners are the Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority
*Through this initiative the sponsor of services will be connected with the beneficiaries and service providers. This connection will be held in a digital manner without any kind of physical interface.
*Through this platform the payment to the service provider will be made after the completion of a transaction.
*This payment platform is prepaid in nature.
*e-RUPI does not require any kind of service provider to make payment.
*This platform can also be used for providing services under schemes which are meant for providing drugs and nutritional support.
However India is witnessing rapid changes, and this concept will definitely bring fruitful results to the country.