e-RUPI: Digital Payment Solution Launched by PM Modi

On Monday, Prime Minister Narendra Modi launched e-RUPI, a digital payment solution. e-RUPI is created by the National Payment Corporation of India (NPCI), the Ministry of Health and Welfare, the Department of Financial Services and the National Health Authority.

PM launched the platform at 4:30 p.m. on August 2, 2021, via a video conference. e-RUPI will connect the sponsors of respective services with their beneficiaries through digital means. It would not have the involvement of intermediaries. The platform is pre-paid, therefore it can provide timely payments to the users.

What Are The Benefits of e-RUPI?

Ahead of the launch, PM Modi shared a post on Twitter, ‘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. https://pib.gov.in/PressReleseDetail.aspx?PRID=1741110

He also talked about the benefits of the digital initiative. According to him, it will ensure cashless and contactless digital payment. The platform is aimed at connecting service sponsors and beneficiaries digitally. Other than that, it assures leak-proof delivery of various welfare services.

As per the statement of the Press Information Bureau, Government of India, ‘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 PM further said, ‘The launch of e-RUPI is in line with our efforts to make India a leader in Fintech and leverage technology to boost ‘Ease of Living.’ Thanks to technology, things which were earlier deemed impossible have become a reality. Through it, numerous tech solutions, particularly in healthcare will be available.’

PM Modi is particularly invested in the digital initiatives for the governance of India. It is needed as we have to keep up with the technological advancements happening around the world.

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