Prime Minister Narendra Modi launched an electronic voucher based digital payment system called ‘e-RUPI’ on August 2. The digital platform is a collaboration between the National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare & the National Health Authority.
e-RUPI is set up as a no cash, digital payments medium, which aims to create a contactless medium by delivering unique codes (an SMS or QR-code) directly to the beneficiaries. The system is designed like a prepaid gift-voucher that will be valid at specific accepting centres without any credit or debit card, a mobile app or internet banking.
e-RUPI will link the suppliers of the various public services to the beneficiaries using a digital platform without any physical interface. The system has been built by NPCI on its UPI platform, and has on-boarded banks that will be the issuing entities. Watch the video to know more.
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