The Prime Minister Narendra Modi has launched a digital payment method named e-RUPI at 4:30pm through a video conference. It is a cashless and contactless way of making payments which involves a QR code or SMS string-based e-Voucher. These get delivered to mobile beneficiaries and hence can be put to use.
e-RUPI platform came into existence due to the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services which in-turn is a part of the Ministry of Finance; Ministry of Health & Family Welfare and the National Health Authority. This came as a first step for digital currency in the country.
How Does It Work ?
As said above, the user will have this in the form of an SMS or a QR Code. It comes as a pre-paid gift voucher which will be redeemable without any card, mobile banking app or internet banking. e-RUPI connects sponsors with the beneficiaries and service providers without any physical contact. This is created as a revolutionary step to ensure about transport of leak-proof services.
Is It safe ?
Yes, indeed it is. This contactless e-RUPI is safe, easy and secured way to keep details private. Though the process is through the voucher, is is faster. we can be reliable on it as the required is already stored in the voucher.
Where Can It Be Used ?
e-RUPI will first be tested for free vaccine delivery. Very soon, it will also cover food delivery, healthcare, fertilizers, ration payments, scholarships, etc. says the government.
Further, it will also be useful under schemes on drugs and nutritional support, under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics, and other schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc.
Even the private sector will also have access to this concept for their employee welfare and CSR initiatives, the Prime Minister’s Office said.
List Of Banks That Are Live With e-RUPI
|Name of Banks||Issuer||Acquirer||Acquiring App|
|Union Bank of India||Yes||No||NA|
|State bank of India||Yes||Yes||YONO SBI Merchant|
|Punjab national bank||Yes||Yes||PNB Merchant Pay|
|ICICI bank||Yes||Yes||Bharat Pe and PineLabs|
|HDFC bank||Yes||Yes||HDFC Business App|
|Bank of Baroda||Yes||Yes||BHIM Baroda Merchant Pay|
|Axis bank||Yes||Yes||Bharat Pe|
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