e-RUPI: PM Modi to launch new digital payment solution on Aug 2

Prime Minister Narendra Modi will launch a new digital payment solution - e-RUPI on August 2 through video conferencing. 

Highlighting that PM Modi has always backed digital initiatives, the Prime Minister's Office (PMO) said in a statement that over the years, numerous programmes have been rolled out to ensure that the benefits reach their intended beneficiaries in a focused and leak-proof manner, in order to limit touchpoints between the government and the beneficiary. 

e-RUPI is a cashless and contactless platform for digital payments. The instrument acts as an e-voucher which is based on a QR code or SMS string, delivered to the mobile phones of recipients.

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The concept of electronic vouchers takes forward this vision of good governance, PMO added.

The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider, it said.

It has been developed by the National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

The statement said e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.

It also ensures that the payment to the service provider is made only after the transaction is completed.

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Being pre-paid in nature, it assures timely payment to the service provider without the involvement of any intermediary, the statement said.

The PMO said it is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.

It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc.

Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes, the statement said.

(With inputs from PTI.)