Indian prime minister Narendra Modi is all set to launch a new person- and purpose-specific digital payment solution, on August 2 via video conferencing. The new platform is being called e-RUPI.
PM even tweeted about the same yesterday and said, “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.”
The platform built to ensure leak-proof delivery of various welfare services and aims to connect service sponsors and beneficiaries digitally is made by the National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority. NPCI is the same authority that developed and maintains the Unified Payment Interface (UPI) and e-RUPI is also built in the UPI platform.
In a statement, PMO said that “It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services. It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc,” and added, “Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.”
Some of the benefits listed by PMO of the e-RUPI platform are-
- Completely cashless and contactless digital payment.
- Ensures leak-proof delivery of various welfare services.
- e-Rupi is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries.
- e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
- It also ensures that the payment to the service provider is made only after the transaction is completed.
- As the platform is pre-paid in nature, it assures timely payment to the service provider without the involvement of any intermediary.
- These digital vouchers can also be used by the private sector for its employee welfare and corporate social responsibility programmes.