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e-RUPI Digital Payment Solution to Be Launched Today by PM Narendra Modi

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Highlights:

  • PM Modi will launch a ‘futuristic digital payment solution’ e-RUPI today.
  • Digital payment solution offers several benefits for its users.
  • It connects sponsors of the services with beneficiaries and services providers in a digital manner without any physical interface.

e-RUPI is a cashless and contactless instrument for digital payment. It is a QR code or SMS string-based e-voucher, which is delivered to the mobile 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 private sector can also leverage the e-Voucher as a part of its employee welfare and corporate social responsibility initiatives.

The Prime Minister will be launching the digital payment solution through video conferencing at 4 pm. The aim behind the launch of e-RUPI is to ensure that the benefits from the Government reach its intended beneficiaries in a targeted & leak-proof manner.

e-RUPI Digital Payment: Modi said in a tweet:

“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 that offers several benefits for its users.”

The PMO said it is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.

The statement says:

“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 prepaid in nature, it assures timely payment to the service provider without the involvement of any intermediary”.

“This is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services. 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 programs, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc,” PMO stated.

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