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e-RUPI Will Play Important Role In Making Direct Transactions More Effective: PM Modi
Here are the benefits that e-RUPI will provide in Digital Transactions
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e-RUPI voucher is going to play a huge role in making Direct Benefit Transactions (DBT) is more effective in digital transactions in the country, said Prime Minister Narendra Modi, during the launching event of e-RUPI, a futuristic digital payment solution, via video conferencing.
While explaining about digital payment solution, Prime Minister said that e-RUPI voucher is going to play a huge role in making Direct Benefit Transactions (DBT) is more effective in digital transactions in the country.
e-RUPI is a cashless and contactless instrument for digital payment. It is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries. It is developed by the National Payments Corporation of India in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare, and National Health Authority.
He said, "India is showing the world that it knows how to use technology to benefit its citizens even in the remotest parts. It is showing the world its calibre to lead the digital revolution. e-Rupi vouchers are purpose-specific. It will ensure that the benefits of the voucher are availed for the service it is meant for."
Here are the benefits that e-RUPI will provide:
1. This instrument or e-RUPI is a cashless and contactless digital payment.
2. e-RUPI will ensure leak-proof delivery of various welfare services for its users.
3. e-RUPI will connect the service sponsors and beneficiaries digitally.
4. Through e-RUPI, the sponsors of the services will be directly connected with the beneficiaries and service providers digitally.
5. The users of e-RUPI will be able to redeem the voucher without using a card, digital payments applications, and internet banking access, at the service provider.
6. As e-RUPI is a QR code or SMS string-based e-voucher, it will be delivered to the mobile of the beneficiaries.
7. e-RUPI will make sure to its users that the payment to the service provider is made only when the whole process of transaction is finished.
8. As it is prepaid, e-RUPI ensures an accurate and timely payment to the service provider which doesn't involve any intermediary.
9. In addition to regular payments, users will be able to utilize e-RUPI for the services under schemes like providing medicines and nutritional assistance under maternal and child welfare schemes, TB eradication programmes, and medicines and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.
10. The private sector will be able to use these digital vouchers for its employee welfare and corporate social responsibility programmes.
Earlier on Sunday, Prime Minister Narendra Modi Tweeted, "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."
"Some of the benefits of e-RUPI are Cashless and contactless digital payment. Connects service sponsors and beneficiaries digitally. Ensures leak-proof delivery of various welfare services," PM Modi added.