PM Modi launches new digital payment system e-RUPI, Know how does it work

New Delhi: Prime Minister Narendra Modi on Monday launched digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. 

e-RUPI is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries.

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.

e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. It also ensures that the payment to the service provider is made only after the transaction is completed.

Being pre-paid in nature, it assures timely payment to the service provider without involvement of any intermediary.

Speaking at the launch event, the Prime Minister said that the e-RUPI voucher is going to play a huge role in making DBT more effective in digital transactions in the country and will give a new dimension to digital governance.

"This will help everyone in targeted, transparent and leakage free delivery," PM Modi said.

He further said that e-RUPI is a symbol of how India is progressing by connecting people’s lives with technology.

e-RUPI has been developed by National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority.

The Prime Minister said that in addition to the government, if any organization wants to help someone in their treatment, education or for any other work, then they will be able to give an e-RUPI voucher instead of cash.

"This will ensure that the money given by him is used for the work for which the amount was given," he noted.

The Prime Minister said that e-RUPI is person as well as purpose specific.

e-RUPI will ensure that the money is being used for the purpose for which any help or any benefit is being provided, he added.

Modi recalled that there was a time when technology was considered a domain of the rich people and there was no scope for technology in a poor country like India.

Sharing his experience, the Prime Minister said that when his government took technology as a mission, it was questioned by the political leaders and certain types of experts.

He added that today the country has also denied the thinking of those people, and has proved them wrong.

"Today the thinking of the country is different, it is new. Today we are seeing technology as a tool to help the poor, a tool for their progress," he said. (UNI)