{"id":122865,"date":"2021-08-03T10:31:27","date_gmt":"2021-08-03T05:01:27","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=122865"},"modified":"2021-09-08T13:04:55","modified_gmt":"2021-09-08T07:34:55","slug":"pm-to-launch-digital-payment-solution-e-rupi","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/pm-to-launch-digital-payment-solution-e-rupi\/","title":{"rendered":"PM to launch digital payment solution e-RUPI"},"content":{"rendered":"<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1741110\"><strong>PIB<\/strong><\/a><\/p>\n<h5><strong>\u00a0<\/strong><strong>What is the News?<\/strong><\/h5>\n<p>The Prime Minister has launched a digital Initiative named \u201c<strong>e-RUPI\u201d.<\/strong><\/p>\n<h5><strong>\u00a0<\/strong><strong>About e-RUPI:<\/strong><\/h5>\n<ul>\n<li><strong>e-RUPI is a cashless and contactless instrument for digital payment<\/strong>. It is founded on the Unified Payment Interface(UPI) platform.<\/li>\n<li><strong>Purpose: <\/strong>It is designed to be a person and purpose-specific digital payment solution. It seeks to ensure that government schemes reach intended beneficiaries in a targeted and leak-proof manner, with <strong>limited touchpoints<\/strong> between the government and the beneficiary.<\/li>\n<li><strong>Developed by: <\/strong>National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services (DFS), the Union Health Ministry, and the National Health Authority (NHA).<\/li>\n<\/ul>\n<h5><strong>How does e-RUPI work?<\/strong><\/h5>\n<ul>\n<li><strong>The e-RUPI system <\/strong>relies on mobile phones. This e-voucher is intended to be a seamless, one-time payment mechanism.<\/li>\n<li><strong>A beneficiary will receive <\/strong>a QR code or SMS string-based e-voucher on her mobile phone. The beneficiary, then, can redeem this e-voucher at the service provider without the need for any card, digital payment app, or internet banking access.<\/li>\n<\/ul>\n<h5><strong>Features of e-RUPI:<\/strong><\/h5>\n<ul>\n<li><strong>Firstly, <\/strong>e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.<\/li>\n<li><strong>Secondly, <\/strong>It ensures that the payment to the service provider is made only after the transaction is completed.<\/li>\n<li><strong>Thirdly, <\/strong>being pre-paid in nature, it assures timely payment to the service provider without the involvement of any intermediary.<\/li>\n<\/ul>\n<h5><strong>Significance of e-RUPI<\/strong>:<\/h5>\n<ul>\n<li><strong>e-RUPI <\/strong>is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.\n<ul>\n<li><strong>It can be used <\/strong>for delivering services under schemes, meant for providing drugs and nutritional support like Ayushman Bharat fertilizer subsidies, etc.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Even the private sector <\/strong>can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programs.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source: PIB \u00a0What is the News? The Prime Minister has launched a digital Initiative named \u201ce-RUPI\u201d. \u00a0About e-RUPI: e-RUPI is a cashless and contactless instrument for digital payment. It is founded on the Unified Payment Interface(UPI) platform. Purpose: It is designed to be a person and purpose-specific digital payment solution. It seeks to ensure that&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/pm-to-launch-digital-payment-solution-e-rupi\/\">Continue reading <span class=\"screen-reader-text\">PM to launch digital payment solution e-RUPI<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[4105,3837,8681,9070],"class_list":["post-122865","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-digital-currency","tag-digital-economy","tag-e-rupi","tag-e-voucher","entry"],"jetpack_featured_media_url":"","views":{"total":2,"cached_at":"","cached_date":1700488990},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/122865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=122865"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/122865\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=122865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=122865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=122865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}