e-Rupi digital payment system

         e-Rupi Digital Payment System to Be Launched Today

Cashless and a contactless instrument for digital payment

Launch

 

Prime Minister Narendra Modi will launch e-Rupi a digital payment solution that is person and purpose-specific.

 

What is e-Rupi?

1.     It is a cashless and contactless  instrument for digital payment

2.     It is developed by National Payments Corporation of India

3.     It ensures timely payment without involvement of intermediary

4.     It connects sponsors of the services with beneficiaries & service provider in a digital manner with physical interface

 

Working

It is a QR code or SMS string-based e-voucher that is delivered to the mobile of the beneficiaries. The users of this one-time payment mechanism will be able to redeem the voucher without a card, digital payment app, or internet banking access, at the service provider.

 

Purpose

1.     To ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner.

2.     It is used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child Welfare schemes, TB eradication programs, drugs, and diagnostics.

In this blog we learnt about "e-Rupi digital payment system"