PM Narendra Modi to launch e-RUPI as an aid for digital payment

PM Narendra Modi to launch e-RUPI as an aid for digital payment

PM Modi launches e-RUPI: The Prime Minister of India Narendra Modi on the 2nd of August 2021 has launched a new mode of cashless payment solution which is going to be operated based on e-vouchers.

This system is developed by the National Payments Corporation of India in partnership with the department of financial services, the National Health Authority, and the health ministry.

It is also stated that there is no need for any digital payment application to redeem the e-RUPI vouchers. This facility can be used by everyone who does not have a phone or even a bank account also can access these facilities.

These vouchers are similar to cash gift cards that are prepaid in nature. The code of the cards can be shared with the user with help of a QR code or via SMS. These e-vouchers are created for any specific person or any specific reason or purpose.

PM Modi launches e-RUPI, Such as if one has the e-RUPI voucher for the Covid-19 vaccine then it can only be redeemed for the vaccines only.

The e-RUPI is not a platform. It is more similar to a digital voucher which is meant for consuming the specific service by the specific person.

The e-RUPI vouchers are purpose-oriented can be used by anyone which makes it different from any other digital platform. These vouchers are mostly designed for their use in health-related payments.

The corporates are only allowed the issue these vouchers for their employees. The center has earlier stated that it is going to bring it as an option for providing e-vouchers for vaccines, where an individual can buy an e-voucher for the vaccination in any of the private hospitals and can also help it in gifts to the others.

The individual who is buying the vouchers and getting them issued for others can also track the utilization of the vouchers.

PM Modi launches e-RUPI, Privacy is another problem for the beneficiaries that won’t allow the user to share their details. The individual doesn’t require to use any card or hard copy of the voucher to redeem it. The QR received through the message is enough.

Read More: RBI: Digital payments have increased up to 30% during the pandemic

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