e-RUPI – Digital payment Solution UPSC Notes

e-RUPI ,the electronic voucher concept advances this notion of Good Governance.The Prime Minister has long been a proponent of digital ventures. Numerous programmes have been implemented over the years to ensure that benefits reach their intended beneficiaries in a targeted and leak-proof way, with few points of contact between the government and the beneficiary.  

Know more about  e-RUPI

  • e-RUPI is a cashless and contactless digital payment tool. It is a QR code or SMS string-based e-Voucher supplied to the beneficiaries’ mobile phones.
  • Users of this smooth one-time payment mechanism will be able to redeem the voucher at the service provider without the need for a card, digital payments app, or online banking access.
  • It was developed in partnership with the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority using the National Payments Corporation of India’s UPI platform.

Features of e-RUPI

  • e-RUPI establishes a digital link between service sponsors and beneficiaries and service providers, obviating the need for a physical interface.
  • Additionally, it ensures that money is made to the service provider only once the transaction is complete.
  • Due to the fact that it is pre-paid, it ensures prompt payment to the service provider without the need for an intermediary.

How does e-RUPI operate?

E-Rupee establishes a digital link between service sponsors and beneficiaries and service providers, obviating the need for a physical interface. Additionally, it ensures that payment to the service provider is paid only after the transaction has been completed. Due to the fact that E-Rupee is a pre-paid currency, it ensures prompt payment to the service provider without the need for an intermediary.

How to make use of your e-RUPI coupons

These vouchers are similar to e-gift cards in that they are prepaid. The cards’ codes can be exchanged via SMS or via the OR code. These e-vouchers will be customised for each individual and purpose. For instance, if you have an e-RUPI voucher for the Covid-19 vaccination, it must be used just for vaccines.

What distinguishes an e-RUPI coupon from other online payment applications?

  • E-RUPI is not a platform in the conventional sense. It is a certificate redeemable for specified services.
  • E-RUPI vouchers are purpose-specific, and everyone can profit from them regardless of whether they have a bank account, a digital payment app, or a smartphone. That is the distinction.
  • These coupons will primarily be utilised for health-related expenses. Corporates can provide their staff with these coupons.
  • The Centre had previously stated that it would provide a vaccine e-voucher option, which would allow anyone to purchase an e-voucher for immunisation at a private hospital and gift it to another.
How does  e-RUPI Help
  • This system helps in ensuring the delivery of welfare services is leak-proof.
  • Additionally, it can be used to deliver services under schemes that provide drugs and nutritional support to mothers and children under Mother and Child Welfare schemes, tuberculosis eradication programmes, drugs and diagnostics as an arm  Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, and fertiliser subsidies, among others.
  • Even businesses can take advantage of these digital coupons as part of their employee welfare and corporate social responsibility programmes.
  • According to official sources, e-RUPI is intended to ensure the delivery of welfare services is leak-proof.
  • private sector organisations might utilise these digital vouchers as part of their employee welfare and corporate social responsibility programmes, sources revealed.
  • Additionally, it can be used to administer services under schemes that provide medications and nutritional support through the Central Government’s different welfare programmes.
The following is a list of banks that have implemented e-RUPI.

Eight banks have already implemented e-RUPI, including State Bank of India, HDFC, Axis, Punjab National Bank, Bank of Baroda, Canara Bank, IndusInd Bank, and ICICI Bank, according to the National Health Authority.

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