PM Modi to launch ‘futuristic digital payment solution’ e-RUPI today
Prime Minister Narendra Modi will on Monday launch e-RUPI, a person and purpose-specific digital payment solution via video conferencing. “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,” Modi said in a tweet on Sunday.
PM also said that among the benefits of e-RUPI are cashless and contactless digital payment, connecting service sponsors and beneficiaries digitally and ensuring leak-proof delivery of several welfare services.
According to a statement issued by the Prime Minister’s Office (PMO) on Saturday, e-RUPI is a cashless and contactless instrument for digital payment which has been developed by the National Payments Corporation of India in collaboration with the department of financial services, the Union ministry of health and family welfare and the National Health Authority.
It is a QR code or SMS string-based e-Voucher, which is delivered to the mobile phones of beneficiaries. Users of e-RUPI will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
The digital payment solution connects sponsors of services with beneficiaries and service providers digitally without any physical interface. e-RUPI ensures that payment to a service provider is made only after the completion of a transaction. “Being pre-paid in nature, it assures timely payment to the service provider without involvement of any intermediary,” the PMO statement added.
e-RUPI can also be utilised for delivering services under schemes meant for providing drugs and nutritional support under mother and child welfare schemes, Tuberculosis eradication programmes, drugs and diagnostics under Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc.
The private sector can also leverage the e-Voucher as a part of their employee welfare and corporate social responsibility initiatives.