How does the digital payment solution e-RUPI work in India?

Launched on 02nd Aug 2021

This system has been prepared by NPCI on its UPI platform, in which many banks have also been linked. The banks to be incorporated have been made a major part of it as issuing institutions. Through this e-Rupi system, medicines and nutritional assistance will be provided under maternal and child welfare schemes, TB eradication programs so that the help given directly reaches the beneficiary.

e-RUPI is a cashless and contactless digital payments medium, which will be delivered to mobile phones of beneficiaries in form of an SMS-string or a QR code.

1. This will essentially be like a prepaid gift-voucher that will be redeemable at specific accepting centres without any credit or debit card, a mobile app or internet banking.
2. e-RUPI will connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
3. e-RUPI would also promote financial inclusion by enabling the underbanked population to receive the benefits and funds of welfare schemes and play a crucial role in bolstering the economy of the country from the ground up,"
4. "Targeted, transparent and leakage-free delivery to the end point is the intention of policy makers and we are happy that PayNearby will be able to enable this objective,"
5. "This mechanism is expected to make DBT (direct benefit transfer) more efficient and has all the ingredients to ensure the spread of financial inclusion by the government but also by corporates to extend employee and community welfare schemes.”
6. “The e-RUPI system will not only ensure that there are no leakages in the delivery of government services but also offer a much-needed ease and convenience to the people who are the recipient of such services,"
7. This is expected to completely negate any pilferage and will ensure 100 per cent benefit to the intended beneficiaries.
8. the launch of e-RUPI will ensure that benefits reach the intended beneficiaries.
9. the government will now be able to connect sponsors of the services with the beneficiaries and service providers in a digital manner and without any physical interface.
10. e-RUPI will bring technology into the hands of billions, specially at the last mile.
11. "There have been many conversations around ensuring leak-proof welfare to beneficiaries by leveraging new-age tech, however, the launch of e-RUPI today makes India a global pioneer in the digital payments ecosystem.
12. This is the next best step to take high-end tech to the bottom of the pyramid.