E-RUPI Launch by PM Modi: Prime Minister Narendra Modi launches digital payment solution e-RUPI today at 4.30 pm via video conferencing. e-RUPI is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries. The payments platform has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services (part of the Ministry of Finance), Ministry of Health & Family Welfare (MohFW) and the National Health Authority.
Underlining that PM Modi has always championed digital initiatives, the Prime Minister’s Office said over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary.
It has been developed by the National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.
The statement said e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
It also ensures that the payment to the service provider is made only after the transaction is completed.
Being pre-paid in nature, it assures timely payment to the service provider without involvement of any intermediary, the statement said.
How will e-RUPI work?
e-RUPI is a cashless and contactless digital payments medium, which will be delivered to mobile phones of beneficiaries in form of an SMS-string or a QR code. This will essentially be like a prepaid gift-voucher that will be redeemable at specific accepting centres without any credit or debit card, a mobile app or internet banking. e-RUPI will connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
How will these vouchers be issued?
The system has been built by NPCI on its UPI platform, and has onboarded banks that will be the issuing entities. Any corporate or government agency will have to approach the partner banks, which are both private and public-sector lenders, with the details of specific persons and the purpose for which payments have to be made. The beneficiaries will be identified using their mobile number and a voucher allocated by a bank to the service provider in the name of a given person would only be delivered to that person.