What Is e-RUPI India? e-RUPI India Benefits to corporates, hospitals and Comon Users, Features, Banks live with e-RUPI.

What is e-RUPI India Digital Voucher?

• National Payments Corporation of India (NPCI) in association with Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’.

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 merchants accepting e-RUPI. e-RUPI would be shared with the beneficiaries for a specific purpose or activity by organizations or Government via SMS or QR code.

This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. The entire transaction process through this voucher is relatively faster and at the same time reliable, as the required amount is already stored in the voucher.

What are these vouchers?

• e-RUPI is an e-voucher, which will be delivered to beneficiaries in the form of a QR code and SMS-string-based voucher through which funds will be directly transferred to their bank account.

What are the Benefit of e-RUPI India Digital Voucher?

Benefits for Corporates

• Corporates can enable well-being of their employees by distributing the UPI Prepaid Vouchers
• It is an end-to-end digital transaction and does not require any physical issuance (card/voucher) hence leading to cost reduction
• Visibility for voucher utilisation - Voucher redemption can be tracked by the issuer
• Quick, safe & contactless voucher distribution

Benefits for Hospitals

• Easy & Secure - Voucher is authorised via a verification code shared by the beneficiary
• Hassle free & Contactless payment collection - Handling of cash or cards is not required
• Quick redemption process - The e-voucher can be redeemed in a few steps and lesser decline due to pre-blocked amount

Benefits for End-users

• Contactless - Beneficiary need not carry a print out of the e-voucher
• Easy redemption - It is a 2-step redemption process
• Safe and Secure - Beneficiaries do not need to share personal details and hence their privacy is maintained
• Only mobile phone and e-voucher required - Users redeeming the voucher need not have a digital payment app or a bank account

What are the Banks live with e-RUPI India?

How is e-RUPI different from digital currencies?

While the introduction of e-RUPI is the first step towards having a digital currency in India, it in itself is not a digital currency but rather a social service voucher system, to ensure the reach of particular benefits to the eligible beneficiaries without any discrepancies and delay. 

This is different from cryptocurrencies that let you buy goods and services, or trade them for profit. More importantly, it is government-regulated. The prepaid voucher that is paid for by the government will largely be utilised, at least initially, to provide welfare subsidies.