Ashutosh Prjapati

What is e-RUPI and how does it work?

E-Rupi Indian Digital Payment System How Its Work

The government of India has introduced a new digital payment mode known as e-RUPI. Our Prime Minister Narendra Modi in a video conference on August 2, Monday introduce the e-RUPI mode. But many persons have a question on their mind about what is e-RUPI and how does it work?

If you are one of those people then don’t worry because in this article we are going to discuss e-RUPI and also how it will be implemented. So, just stay right till the end to clear all your queries.

What is e-RUPI?

e-RUPI [electronic voucher-based payment system] is a cashless and contactless digital payments medium that is delivered to the mobiles of beneficiaries in the form of Sting based SMS voucher or QR code.

This is a great initiative by the Indian government to make their country secure digitally. In this e-RUPI mode, people should only take their phones to the services and redeem their vouchers without the use of any cards, Digital Payment apps, and Internet banking access.

The e-RUPI mode was introduced by the National Payments Corporation of India with the use of their UPI platform. In this initiative, our Prime Minister Narendra Modi and some other departments like the Department of Financial Service, Ministry of Health and Family welfare, and also by National Health Authority had equally supported them.

How to apply for e-RUPI?

Both private and public sector banks would be onboarded. And then the beneficiaries’ details will be diverted to different agencies. After the identification of the beneficiary, a voucher would be provided to your mobile number. The beneficiary will be suggested to redeem the voucher in the nearest service center.

After visiting the nearest e-RUPI center they will check the voucher availed on your phone. And then you will simply redeem your voucher.

It is assumed that the e-RUPI mode will be most helpful for monetary fund holders. And also for the persons who don’t own a bank account but want to get services distributed by the government.

Why was e-RUPI introduced?

As I have said earlier that e-RUPI mode mostly targets at poor people who can’t afford good hospitality and can’t manage food living.

For example, Government or other institutions want to deliver food to the poor people of India then how would they do it because if they pay them in cash then there are chances that they might waste that money on Alcohol instead.

And in case if they hire someone to distribute the food materials then there are also chances that it won’t reach to the needy people and some corrupted people could also disappear those items.

So, to avoid this problem Government of India had tried to reach the needy through the e-RUPI platform.

Last words

In this article, I have tried to clear your queries about “What is e-RUPI and how does it work”. I hope that you are now clear about e-RUPI and had even known how it works.

FAQ’S about e-RUPI

Can we redeem the e-RUPI voucher in any shop?

No, e-RUPI is a digital voucher-like Bitcoin. Like Bitcoin, shops might not accept e-RUPI easily. But yes, there would be some service centers in every city where you can redeem your e-RUPI Voucher or QR.

Is e-RUPI a digital currency?

No, it is not a digital currency. e-RUPI is an e-voucher based digital payment solution.

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