Prime Minister Narendra Modi will launch e-RUPI today, August 2, at 4:30 pm via video conferencing due to COVID-19 situation in the country. This will further strengthen the country’s digital payment system.
“Digital technology is transforming lives in a major way and is furthering ‘Ease of Living.’ At 4:30 PM tomorrow, 2nd August, will launch e-RUPI, a futuristic digital payment solution which offers several benefits for its users,” Modi said in a tweet on Sunday.
The National Payments Corporation of India (NPCI) developed the electronic voucher-based digital payment system on its UPI platform in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare, and National Health Authority.
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The E-Rupee is a cashless and contactless digital payment system. It is a QR code or SMS string-based e-voucher that is sent to the beneficiaries’ mobile phones.
A user can redeem the voucher without a card, digital payments app, or online banking access using the e-RUPI payment service.
It establishes a digital connection between service sponsors, beneficiaries, and service providers without the use of a physical interface. It also ensures that payments are made on time and without the use of a middleman.
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It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies etc.
Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes,” the press release notes.
