NPCI launches digital payment solution e-RUPI

National Payments Corporation of India (NPCI) has launched an innovative digital solution – ‘e-RUPI’ in association with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks.
e-RUPI is a type of payment voucher with a one-time payment mechanism. It is built on the UPI platform.
Government or Corporate entities would create e-RUPI vouchers through their partner banks and share this e-RUPI with the beneficiaries for a specific purpose or activity via SMS or QR code. The beneficiaries will be identified using their mobile numbers.
The users of e-RUPI will be able to redeem the voucher without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI.
It must be noted that the beneficiary of the e-RUPI voucher need not have a bank account to use the voucher.

Points to remember:

e-RUPI has been launched by?- NPCI
e-RUPI is built on which platform?- UPI
e-RUPI is a type of?- one-time payment mechanism
NPCI has launched e-RUPI in association with?- Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks.

Source: NPCI

End to end digital transaction and doesn’t require any physical issuance hence leading to cost reduction.
Voucher redemption can be tracked by the issuer
Quick, safe & contactless voucher distribution
Easy & Secure – Voucher is authorized via a verification code
Hassle free & Contactless payment collection – Handling of cash or cards is not required
Contactless – Beneficiary should not carry a print out of the voucher
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.