e-RUPI New Digital Payment System of India

‘E-RUPI’ is a new future digital payment system initiative that makes it easy to make payments without internet, debit or credit card or NEED bank account. Alternatively ‘e-RUPI’ is a user with a voucher based payment that only merchants can accept. So this article summarizes the new government’s initiative ‘e-Ruby’

What is ‘e-RUPI’? 

National Payment Corporation of India (NPCI) The Government of India in collaboration with various Ministries and Partner Banks has launched an innovative digital solution- ‘e-RUPI’ – 2 August 2021 4:30 PM.

• Those who use this unrestricted one time payment mechanism
• Recover voucher without card, digital payment application or internet banking access
• Merchants accept e-RUPI.
• The e-RUPI will be shared with the beneficiaries under the Government of India

The launch of e-RUPI is in line with our efforts to make India a leader in Fintech and leverage technology to boost 'Ease of Living.' pic.twitter.com/NGsWfJepZX

— Narendra Modi (@narendramodi) August 2, 2021

e-RUPI’ Future Payment System!

This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. 

1. The transaction is faster & reliable 

2. Cashless & Contactless digital payment

3. The amount already stored in voucher

4. Users not need to carry any extra with voucher

5. More Secure More Faster than any other payment system

6. Widely used for upcoming govt schemes and payments assured by government

7. Ensure right person with right beneficiary credit without bank payment from govt schemes and other subsidy payments

India takes a mammoth leap in adding a new dimension to digital governance and in ensuring targeted, transparent and leakage-free delivery of welfare schemes. The launch of person & purpose-specific digital voucher, #eRUPI today by Hon. PM @narendramodi is a game-changer. pic.twitter.com/3MoUGQ159g

— Dharmendra Pradhan (@dpradhanbjp) August 2, 2021

Benefits for Corporates!

Not only for end users also corporate can use this new payment system

• Companies can implement the well-being of their employees
• The digital transaction ends and no physical release is required, thus leading to cost reduction
• The voucher can be tracked by the recovery provider
• Quick, secure & contactless voucher delivery

Process of ‘e-RUPI’ Payment System !

Simple and fast payment system which prioritizes ‘e-RUPI’ as a good initiative for the right time in India to trouble free payment.

• Contactless – Beneficiary should not carry a print out of the voucher
• Easy redemption – 2 step redemption process
• Safe and Secure – Beneficiary doesn’t need to share personal details while redemption hence privacy is maintained
• No digital or bank presence required – Consumer redeeming the voucher need not have a digital payment app or a bank account

 

e-Rupi Payment Future’s

 ‘e-RUPI’, Absolutely corruption free, trouble free payment initiative makes the process faster. Above all benefits and systematic ‘e-RUPI’ is definitely road to end user towards future payment system of india