As in the current situation of Covid-19 digital payments have been a necessity for every transaction to avoid physical contact with people. As we all know, digital transactions are beneficial for us and help save our time.
By keeping such thing’s in Mind, our Country has also developed a new digital UPI transaction platform Called E-RUPI. E-Rupi is a cashless and digital payment method without making any contact with a person, launched by Prime Minister Narendra Modi on 2nd August 2021.
While taking the event’s speech, The Prime Minister said that the e-RUPI vouchers are going to play a significant role in making Digital banking transactions more effective and will give take digital governance to a new level.
So, let us Talk more about E-RUPI and know more about it:-
It is a QR code or SMS string-Based e-voucher delivered to the smartphones of the beneficiaries. The users of this digital banking scheme will be able to redeem vouchers without a card, Digital payments app, or internet banking access from the service provider.
The National Payments Corporation of India has designed this scheme by collaborating with the Department of Financial Services, Health ministry, and the National Health Authority (NHA)
How to Use E-RUPI App:-
Everyone in the country can use this Indian Digital payment Solution E-RUPI as smoothly as other digital payment Applications as we all know that the E-RUPI has been Designed to be a cashless and contactless payment method that already makes it different from all the other payment methods and makes it more convenient and relevant. So now here comes the point where you want to know how this E-RUPI works. As we all know, E-RUPI is not linked with any particular banking or mobile application, So everyone out there can use the E-RUPI independently. The User of the E-RUPI can redeem the E-RUPI coupon at the service provider, and after processing the payment, the provider will get the benefits from the payment.
How to access the E-RUPI Vouchers
These Vouchers are similar to prepaid e-gift cards. The code of the cards can be delivered to the other person through SMS, or the QR code can be shared. These E-vouchers will rely on the person and purpose. Even if the person Doesn’t have a bank account or is not into digital payment app, or doesn’t have a smartphone, he can benefit from these Vouchers.
The benefits of E-RUPI are as mentioned below:-
- By using the E-RUPi, there will be no physical interference as it will directly connect the service provider and the beneficiary, directly eliminating the physical interference.
- As the vouchers will be in a prepaid form, users have to tap and pay, and there will be no involvement of cards, net banking, Mobile banking, etc.
- The best benefit one can get from this is that only after the payment gets successful, The service provider will get the money at the same time.
- As it also ensures the leak-proof delivery of the various welfare services.
- The vouchers can be used by the private sector under various employees welfare schemes and corporate social responsibility programs
- The platform can be used under the schemes that provide drug and nutritional support like a mother and child welfare scheme drug and diagnostic under the scheme like ABPMJAY, fertilizers subsidies, etc.
List of Banks that are living with E-RUPI
There have been 11 banks listed with this scheme of Prime Minister Narendra Modi:-
- Axis Bank
- Bank of Baroda
- Canara Bank
- Kotak Bank
- ICICI Bank
- HDFC Bank
- Indusind Bank
- Indian Bank
- Punjab National Bank
- State Bank Of India
- Union Bank Of India
This is another excellent step taken by Prime Minister Narendra Modi towards the development of the Nation and to provide Outrageous benefits to the people of the country whether they are smartphone users or not whether they are working for a Government sector or a Private Sector.