- e RUPI is a cashless tool that can be used for digital payments.
- It can be taken as an e-voucher that is based on a QR code or an SMS string that would be directly delivered to the beneficiary’s phone.
- This would be a contact-less method thus.
- e-RUPI connects the sponsors with the beneficiaries without any actual contact.
- There is no contact between the e-service providers and the beneficiaries too.
- The service is prepaid in nature as it ensures that the payment is made to the service provider after the transaction is completed.
- As it is prepaid no intermediary is required and the payment to the service provider is hassle free.
- It is a one-time payment mechanism and it allows the users to redeem the voucher without a card or any digital payment apps or internet banking.
- The e Vouchers can also be leveraged by the private sectors as a part of their employee welfare and corporate social responsibility. The information has been provided in the statement released by the PM Office.
Who has developed e-RUPI?
The National Payments Corporation of India, (NPCI) has developed the e-RUPI platform on its UPI platform, collaborating with the Department of Financial Services, Ministry of Health and Family Welfare, and National Health Authority