UPI e-RUPI Digital Payment Solution – Redeem Prepaid e Voucher without Card, Digital Payments App, Internet Banking
UPI e-RUPI Digital Payment Solution is a cashless and contactless instrument for digital payments. It acts as an e-voucher based on a QR code or SMS string, which is delivered to the mobile phones of the beneficiaries. Central govt. led by Prime Minister Narendra Modi launch e-RUPI, an e-voucher-based digital payment solution on 2 August 2021 (Monday) via video conferencing.
The e-RUPI initiative will be one of the programmes launched over the years to limit touch points between the government and the beneficiary. e-RUPI Digital Payment Solution will ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner.
What is UPI e-RUPI Digital Payment Solution
National Payments Corporation of India (NPCI) in association with Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – e-RUPI. The users of this seamless UPI e-RUPI one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI UPI. The e-RUPI voucher would be shared with the beneficiaries for a specific purpose or activity by organizations or Government via SMS or QR code.
This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. The entire transaction process through this voucher is relatively faster and at the same time reliable, as the required amount is already stored in the voucher.
UPI e Rupi Benefits for Corporates
- Corporates can enable well-being of their employees
- End to end digital transaction and doesn’t require any physical issuance hence leading to cost reduction
- Voucher redemption can be tracked by the issuer
- Quick, safe & contactless voucher distribution
UPI e-Rupi Benefits for Hospitals
- Easy & Secure – Voucher is authorized via a verification code
- Hassle free & Contactless payment collection – Handling of cash or cards is not required
- Quick redemption process – The voucher can be redeemed in a few steps and lesser decline due to pre-blocked amount
UPI e-RUPI Benefits to the Consumer
- Contactless – Beneficiary should not carry a print out of the voucher
- Easy redemption – 2 step redemption process
- Safe and Secure – Beneficiary doesn’t need to share personal details while redemption hence privacy is maintained
- No digital or bank presence required – Consumer redeeming the voucher need not have a digital payment app or a bank account
List of Banks Live with e-RUPI
Here is the complete list of banks live with e-RUPI Digital Payment Solution:-
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