What is UPI e-RUPI NPCI?
This article explains how India’s new welfare focused on a digital payment system. e-RUPI is a PREPAID e- VOUCHER powered by the National Payment Corporation of India. This digital voucher can be redeemed by possessors when they make use of any specific government services. This digital mechanism does not need a card, mobile app, or even internet access to redeem the voucher. These digital tokens will be issued to the nationals by the NPCI via SMS strings or QR Codes to be used merely for specific purposes. This digital voucher targeted welfare supplies like medicines and providing nutritional support and medical symptomatic under the government health scheme. This digital token cannot be transferred or cashed out. e- RUPI is not a digital currency, built for only made specific transactions services that are availed at particular welfare centers.
Today, under the leadership of the successful Prime Minister of India, Narendra Modi, the direct and full benefits of those development-oriented and welfare schemes are reaching the people. Prime Minister’s resolve and development mantra is a strong force of Sabka Saath, Sabka Vikas, and Sabka Vishwas.
The solutions and innovations of Digital India continue to contribute towards making people’s lives better. Many such platforms such as Digi Locker Aadhar Seva BHIM App Arogya Setu App, COVAXIN Winning over Covid-19 are playing an important role in establishing India as a digitally enabled society today.
Following the principles of minimum government maximum govern, the problems between the government and the public, between the systems and facilities, and the gap between the services and to eliminate the difficulties between them and to increase the convenience of the general public. This has been the need of the hour and hence Digital India is a very powerful medium for facilitating and empowering equal citizens. Every section of the society and every section of the country has adopted many such platforms based on technology in a very efficient, effective, and economical way. This is a new initiative to take forward this resolve of Digital India.
e-RUPI is a UPI PREPAID e VOUCHER. It is based on India’s most successful payment platform BHIM-UPI.e-RUPI is an RBI-approved prepaid e-voucher, which has been developed by the National Payment Corporation of India (NPCI) in collaboration with the Department of Financial Services and several banks to make payments.
e-RUPI is issued to the beneficiary for the payment of a particular service. It is a quick response code or SMS string-based e-voucher. Which is sent to the beneficiary’s mobile and through this code, direct fund transfer can be done in the account of the service provider. Government entities, corporate or any service adder can generate an e-RUPI voucher with the help of their partner bank. Beneficiaries can make payments through e-RUPI at the service provider center.
A code will be sent to the beneficiary’s mobile number for verification of the beneficiary by scanning any QR code or SMS string received in that form of service. When the verification is completed then the payment will be confirmed immediately. This voucher is contactless and as well as cashless. Quick response (QR) code can be used only once. It is completely safe and reliable.
The information received by the beneficiaries is kept strictly confidential and secure. e-RUPI ensures that targeted and leak-proof delivery of services.
e-RUPI is a revolutionary initiative in the direction of making the benefits of government schemes accessible to the general public. e-RUPI is used for public welfare, under various schemes run by the government, payments or grants are given for the fulfillment of certain objectives. It can also be used by private individuals or any organizations to give benefits to the general public. The people who cover a specific purpose will get directly benefited. A new payment system has been launched by Prime Minister Modi on 2nd August, its name is e-Rupi, it will work like UPI, whereas the (UPI) Unified Payment Interface was launched on 11th April 2016, both these platforms are supported or run by the National Payment Corporation of India.
It can be understood in very simple language like this quick response QR -code will be sent to three individual bodies, first to the beneficiary, second to the shop or providing this service to the beneficiaries and third is NPCI itself. This system will work under three individual bodies.
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