e-RUPI: PM Modi to launch cashless & contactless digital payment solution on August 2

Prime Minister Narendra Modi on Monday, August 2, will launch e-RUPI, a person and purpose-specific digital payment solution, via video conferencing. Asserting that PM has always championed digital initiatives, the government in a statement said that the concept of e-voucher or electronic voucher will take forward the vision of 'Good Governance'.

"Prime Minister has always championed digital initiatives. Over the years, several programmes have been launched to ensure that the benefits reach their intended beneficiaries in a targeted and leak-proof manner, with limited touchpoints between the government and the beneficiary. The concept of electronic vouchers takes forward this vision of Good Governance," the statement said.

What is e-RUPI?

e-RUPI is a cashless and contactless mode of digital payment. It is an SMS string or QR code-based e-voucher, which is delivered to the cell phone of the beneficiaries. "The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider," the government said.

The technology has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health and National Health Authority.

e-RUPI needs no physical interference and connects the sponsors of the services with the beneficiaries and service providers in a digital manner. "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 the involvement of any intermediary," the statement said.

According to the government, e-RUPI will ensure a leak-proof delivery of welfare services. The PMO further stated, "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."

Image Credit: PTI