e-RUPI Digital Payment Solution To Launch In India Today At 4:30PM: What To Expect?

Prime Minister Narendra Modi will be launching the e-RUPI digital payment solution in India today. The digital payment solution is all set to launch at 4:30PM IST via video conferencing event, the PM’s office said. The PM has always made sure to prioritise the growing importance of digital payments in the contemporary world.

Digital initiatives have always been one of the topmost priorities of the PM Modi led government. Moreover, several such successful programmes have been launched to ensure that they reach out to the intended beneficiaries on time. Now, the very concept of an electronic voucher system via the e-RUPI feature takes this vision forward, says PMO.

Additionally, the PMO has also stated that the e-RUPI system is a cashless and contactless tool for digital payments to be carried out. The digital payment solution will be based on a QR code or SMS string-based voucher system.

Moreover, users of the seamless e-RUPI one-time payment system will be able to redeem the voucher without any card. Additionally, no digital payments app or Internet Banking access will be required at the service provider either, says the PMO’s statement.

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The brand new e-RUPI digital payment solution has been developed by the National Payments Corporation of India. Moreover, the Corporation has done so on its UPI platform in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

e-RUPI: What Else?

Furthermore, the PMO’s statement states that e-RUPI is primarily meant to connect the sponsors of the services with the beneficiaries. Moreover, it will also connect the sponsors with the service providers in a digital manner, devoid of any physical interface. Additionally, the digital payment solution system will also ensure that the payment to the service provider is carried out after the transaction is completed.

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Moreover, as the new system will launch as a pre-paid system, it will ensure timely payment to the service provider. All of this will be carried out without the involvement of any third party or intermediary person or organization.

All of this is to pave the way for a leak-proof delivery of welfare services. Additional benefits of the e-RUPI system include delivering services under Mother and Child welfare services, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, TB eradication, fertiliser subsidies and more. Additionally, private sectors can also benefit a lot via the new digital payment solution. They can incorporate the new digital vouchers system via their corporate social responsibility and employee welfare programmes.

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