Tuesday, August 3, 2021
e-RUPI Digital Payment Solution
e-RUPI is a digital payment solution launched by the Government of India. It is a voucher-based payment system that aims to promote digital payments and ensure targeted and leak-proof delivery of welfare services to beneficiaries.
Key Features of e-RUPI:
1. Digital Vouchers: e-RUPI is essentially a digital voucher that can be delivered to the mobile phones of beneficiaries in the form of an SMS or QR code.
2. Contactless and Cashless: e-RUPI is a contactless and cashless payment method, ensuring that the transactions are secure and convenient.
3. Prepaid: e-RUPI vouchers are prepaid in nature, meaning they are issued with a specific monetary value, and beneficiaries can redeem them at specific merchants or service providers.
4. Targeted Subsidies: e-RUPI is designed to ensure that government subsidies and welfare benefits are targeted and reach the intended beneficiaries directly.
5. Secure and Private: The system ensures privacy and security, as the vouchers can only be redeemed by the intended recipient at authorized service providers.
6. Ease of Redemption: Beneficiaries can redeem the e-RUPI voucher without needing a card, digital payments app, or internet banking. They can simply provide the voucher to the merchant/service provider for redemption.
7. Government Initiatives: e-RUPI is often used for the delivery of various government services, including healthcare services, vaccination programs, and other welfare schemes.