The Prime Minister took over the platform of Twitter to announce the launch of a digital technology that shall transform lives in a significant way and shall further ‘ease of living. E-RUPI launched on 2nd August as a futuristic digital payment solution.
The PM stated that the e-RUPI voucher initiative would play a massive role in making DBT more effective in digital transactions in the nation. It will also give a new dimension to digital governance. E-RUPI will help everyone in targeted, transparent, and leakage-free delivery. He further added that e-RUPI should symbolize India’s is progress in connecting people’s lives with technology.
The one-time payment mechanism aims to stop leakages in government welfare schemes. The voucher is to ensure that the benefits reach those they are meant to be. Since the benefits are transferred on mobile phones of beneficiaries in QR codes or SMS, there is no possibility of them being misused. E-RUPI does not require any physical interface for transactions and intends to make the system hassle-free for users. It is considered safe as it’s prepaid. Being prepaid in nature assures timely payment to the service provider without the involvement of any intermediary. Since the benefits will be transferred as a voucher, the beneficiary will use the amount for the intended purpose only.
The PM also tweeted some of the benefits of the new electronic voucher-based digital payment solution. He said e-RUPI would connect service sponsors and beneficiaries digitally.
The private sector can also leverage the new system for employee welfare and corporate social responsibility programs. The Prime Minister’s Office (PMO) said the new digital payment platform is expected to be a revolutionary initiative to ensure a leak-proof delivery of welfare services.
A press release stated that “It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services. It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc.” “Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes,” it added.
The E-RUPI platform has been developed by the National Payments Corporation of India (NPCI) on its UPI platform in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority.
