What is e-RUPI?
e-RUPI is a cashless and contactless financial instrument which is developed by the National Payments Corporation of India (NPCI). The e-RUPI is based on a QR code or SMS based e-voucher system that will be delivered directly on the smartphone of the beneficiary. The beneficiary can then redeem the e-voucher or the code by going to the government authorised service provider. Initially, Prime Minister Modi said that users could use the e-RUPI against healthcare services. If there are people who want to get vaccinated and have to pay a certain sum of money against that, the government will issue them e-RUPI on their registered numbers which they can use to pay for the vaccination. Note that e-RUPI can only be redeemed against the services it is sent for. This will help the government in ensuring that the users are not wasting the e-RUPI on petty things.
How Can e-RUPI Help You?
The role of e-RUPI is very simple. It will help users make cashless transactions, and the government can directly send the e-voucher to the user’s smartphone. As noted by Prime Minister Modi, over time, e-RUPI can be used to pay for more services. It can be used to make donations, provide nutrition to the poor, and more. This is a big step from the Indian government in the digital currency domain.
