e rupi digital payment solution
upi e-rupi’s digital payment service is a contactless and cashless instrument to make digital payments. It functions as an electronic voucher built on the QR code or SMS string, which is then delivered to the cellphones of recipients. Central Govt. headed by the Prime Secretary Narendra Modi launched e-RUPI, an electronic-voucher-based payment system on the 2nd of August
e rupi digital payment solution
UPI The e-RUPI Digital Pay Solution provides a contactless and cashless method for digital payment. It is an electronic voucher that is based on a QR code or SMS string that is sent to mobile phones of those who are beneficiaries. It was announced that the Union Government led by Prime Minister Narendra Modi, launched the e-voucher-based electronic payment service the e-RUPI on August 2nd 2021 (Monday) by video conference.
The e-RUPI program will be one of the programs that have been launched in the past to reduce the communication between the government and the beneficiaries. The e-RUPI payment method will ensure that benefits go to their intended recipients in a targeted and leak-proof way.
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What exactly is UPI?? digital payment solution
National Payments Corporation of India (NPCI) in collaboration in partnership with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW) and other banks have come up with an innovative digital solution, E-RUPI. The users who use this seamless UPI e-RUPI one-time payments system can use it to purchase vouchers with no card, app for digital payments or access to online banking for merchants that accept e-RUPI UPI. The e-RUPI voucher can be made available to beneficiaries via an SMS or QR code issued by the government or other organizations for a specific reason or purpose.
The contactless e-RUPI is simple to use, secure and safe as it protects the personal information of the beneficiary completely private. The entire process of transferring money using this voucher is remarkably quick and safe, as the necessary amount is already in the voucher.
UPI E Rupi Advantages to Corporates
- Corporates can help in the improvement of their employees
- End-to-end digital transactions don’t require physical issuance thus reducing costs.
- Voucher redemption is monitored by the issuer
- Secure, quick and instant voucher delivery
Advantages UPI e-Rupi in hospitals
- Secure and easy to use Verified voucher code
- Contactless and hassle-free payment collection No transactions with cash or cards required
- Fast redemption process: Vouchers can be exchanged in a couple of steps. There is less fallout because of the amount that is pre-blocked.
The benefits of UPI e-RUPI for consumers
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- Contactless – The beneficiary should not print a copy of the voucher
- Easy Redemption – Two-Step Redemption Method
- Secure and safe – The recipient is not required to disclose personal information at redemption, and therefore confidentiality is ensured.
- There is no bank or digital presence necessary – The individual who wishes who wants to use the voucher must not be using a digital application for payments or bank account.
Live Banks List with e-RUPI
Here is the complete list of Banks Live with e-RUPI Digital Payment Solution:-
| Bank Name | Issuer | takeover | Getting App/Entity |
| Axis Bank | Bharat Pe | ||
| Bank of Baroda | BHIM Baroda Merchant Pay | ||
| Canara Bank | |||
| HDFC Bank | HDFC Business App | ||
| ICICI Bank | Bharat Pe & PineLabs | ||
| Indusind Bank | |||
| Indian Bank | |||
| Kotak Bank | |||
| Punjab National Bank | PNB Merchant Pay | ||
| State Bank of India | YONO SBI Merchant | ||
| Union Bank of India |
UPI e-RUPI Development by NPCI on UPI Platform
UPI e-RUPI has been developed by the National Payment Corporation of India on its UPI platform in collaboration with the following Departments/Ministries:-
- Department of Financial Services
- Ministry of Health and Family Welfare
- national health authority
10 Benefits of e-RUPI Cashless / Contactless Payment System
Here are the benefits provided by e-RUPI cashless/contactless payment system:-
- E-RUPI connects service sponsors with beneficiaries and service providers in a digital manner without any physical interface.
- e RUPI Digital Payment Solution also ensures that payment is made to the service provider only after the transaction is completed.
- This cashless/contactless system is prepaid in nature.
- As the UPI e-RUPI platform is prepaid in nature, it assures timely payment to the service provider without the involvement of any intermediary.
- The one-time payment mechanism of e-RUPI will allow users to redeem the vouchers without having to access the card, digital payment app or internet banking at the service provider.
- This is expected to be a revolutionary initiative towards ensuring leak-proof delivery of wellness services.
- UPI e-RUPI Digital Payment Solution can also be used to deliver medicines and diagnostics services under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.
- It is a QR code or string-based e-voucher which is individual and purpose-specific.
- UPI e RUPI digital payment solution can also be used to deliver services under schemes providing medicines and nutritional support under maternal and child welfare schemes, TB eradication programmes, fertilizer subsidies etc.
- Even the private sector can avail of these digital vouchers as part of its employee welfare and corporate social responsibility programmes.
The official link for more details- https://www.npci.org.in/what-we-do/upi/upi-erupi