E-rupi India’s cashless digital payment solution

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Prime Minister Narendra Modi launched e-RUPI, a person and purpose-specific digital payment solution on Monday via video conferencing. The event took place at 4.30 pm. e-RUPI is a brand new cashless and contactless instrument for digital payment. e-RUPI is a QR code or SMS string-based e-Voucher that is sent to the recipients’ mobile phones. Users of this seamless one-time payment solution will be able to redeem these vouchers at the service provider without the usage of a card, digital payments app, or online banking access. 

e-RUPI works by establishing a digital link between service sponsors & beneficiaries there by eliminating the need for a physical interface. It also guarantees that the service provider is only paid once the transaction has been completed. Because it is prepaid, it ensures prompt payment to the service provider without the need for a middleman. The instrument was created in conjunction with the Department of Financial Services, Ministry of Health & Family Welfare, and National Health Authority using the National Payments Corporation of India’s UPI platform. 

It can also be used to deliver services such as the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, which provides drugs and nutritional support to mothers and children, TB eradication programs, drugs & diagnostics under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, and fertilizer subsidies. According to a press statement from the Prime Minister’s Office, the Prime Minister has always supported digital projects. 

Several programs have been implemented over the years to guarantee that benefits are delivered to their intended recipients in a targeted and leak-proof way, with few touchpoints between the government and the recipient. According to the press release, the notion of an electronic voucher advances this goal of good government. Several programs have been established over the years to guarantee that benefits are delivered to their intended users in a targeted and leak-proof way, with few points of contact between the government and the recipient.

This idea of Good Governance is furthered by the concept of an electronic voucher. Unlike the DBT plan, which relies on the troika of Jan Dhan accounts, Aadhaar numbers (though Aadhaar is not required), and mobile phones, the thee-RUPI system will not require users’ bank account information.  The beneficiary’s cell phone number is the sole need. According to the DBT plan, it relies on 100 crore mobile connections to get help to recipients.

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