Indian Prime Minister Narendra Modi will launch e-Rupi today which happens to be a digital payments solution. e-Rupi will be launched through video conferencing. The Prime Minister's Office said that e-Rupi is a new venture for digital payments. e-Rupi is developed by the National Payments Corporation of India on the platform of UPI and it is in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority. There are several programs that are launched to promote and benefit digital payments. e-Rupi is a cashless and contactless application for digital payment which works with a QR code or SMS-based e-voucher.

The voucher will reach the mobile of the beneficiaries and can be redeemed without a card or a digital app or internet banking. This is a new mechanism that works on a one-time payment mode and it connects the sponsors with the beneficiaries and the service providers. The payment will be done only after the transaction is completed. e-Rupi is prepaid and assures timely payment for the service provider without any third-party apps or gateways. e-Rupi can also be used for delivering the services under several welfare schemes like Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies and others. e-Rupi can also be used by the private sectors by using digital vouchers for the welfare of the employees and other social responsibility programs.

By Siva Kumar