Prime Minister Narendra Modi will launch a digital payment platform called e-RUPI via video conferencing at 4 pm today. The platform, developed by the National Payments Corporation of India in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority, claims to be a person and purpose-specific digital payment solution.
The PMO said it is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
"Digital technology is transforming lives in a major way and is furthering ‘Ease of Living.’ At 4:30 PM tomorrow, 2nd August, will launch e-RUPI, a futuristic digital payment solution that offers several benefits for its users," PM Modi had tweeted on Sunday.
Some of the benefits of e-RUPI are:
1) e-RUPI is a cashless and contactless digital payment.
2) Connects service sponsors and beneficiaries digitally.
3) Ensures leak-proof delivery of various welfare services.
4) It is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries.
5) The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider
6) e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
7) It also ensures that the payment to the service provider is made only after the transaction is completed.
8) Being pre-paid in nature, it assures timely payment to the service provider without the involvement of any intermediary.
9) Apart from regular payments, it can also be used for services under schemes like providing medicines and nutritional assistance under maternal and child welfare schemes, TB eradication programmes, medicines and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidy, etc.
10) These digital vouchers can also be used by the private sector for its employee welfare and corporate social responsibility programmes,
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PM Modi to launch e-RUPI today: 10 benefits of the new digital payment platform - Mint
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