e-Rupi Digital Payment – What is it and how to use

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e-Rupi Digital Payment – What is it and how to use

E-RUPI is a cashless medium issued today i.e. on 02 August 2021 by the Government of India. This contactless digital payment medium was launched by the Prime Minister of the country, Shri Narendra Modi, in a video conference. Now you can make payment through this e-Rupee digital payment anywhere in the country anytime. Through SMS string or QR code, this app will be sent to mobile as a payment option across the country. You will get complete information about how the e-Rupee digital payment app works and how we can use it in this article below. Continue reading further for complete information about Digital e-Rupi Benefits & e Rupee Modi App.

e-Rupi Digital Payment Solution

As a digital payment option in India, the Government of India will launch the Electronic Voucher-Based Digital Payment System on 2nd August 2021. Today the Prime Minister of India Shri Narendra Modi will address the public while launching this “e-Rupi”. Some of the higher institutions and government agencies of the country like National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority etc. have jointly developed this app.

This app, which is being launched in India as e-Rupi Digital Payment, is considered to be very good and reliable. Customers using this app can securely transfer their money from one account to another in the form of payment. With the launch of this app named “e-RUPI”, you can make digital payments in any part of the country. The main objective of this app is to promote digital payment in the country.

What is e Rupi ?

Now the question must be coming in your mind that what is this e-Rupi, then let us tell you that e-RUPI has been developed as a cashless app. The help of SMS string or QR code system will be taken to send this app to the mobile of the general public of the country. Beneficiaries can download this app directly on their mobile through SMS string or QR code. You can use this Digi e-Rupee prepaid gift-voucher app in India without any credit or debit card, mobile app or internet banking.

Sponsors of e-RUPI services will not need to physically interface with anyone to send this app to every mobile in the country. You can use it as a prepaid gift voucher. Beneficiaries and service providers will be linked through this e-rupee service. Today this e-RUPI digital cashless system will be launched by the Prime Minister of India.

Overview of e-Rupi Digital Payment
Currency Digital e-Rupi App
Under whom  RBI
initiated Prime Minister Narendra Modi
Launch date 02 Aug 2021
About How to use Digital e-Rupee?
What is Digital e-Rupi?
official website Click
e-Rupee App Download Here

 

How will these e-rupee vouchers be issued?

This system has been developed by NPCI on its UPI platform, in which many banks have also been linked. Banks to be incorporated have been made a major part of this in the form of issuing institutions. Through this e-rupee system, medicines and nutritional assistance will be provided under maternal and child welfare schemes, TB eradication programs so that the assistance given reaches directly to the beneficiary.

In this system the beneficiary will be identified by his mobile number. The e-Rupee voucher issued by this system can be used only by the person to whom he/she would have been allotted the e-Rupee voucher. In a statement issued by the PMO, it was said that Sakar can also use this system in Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana, fertilizer subsidy etc.

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What is the use of e-RUPI?

Many services will be provided by the government through e-RUPI in the country. It can also be used to ensure leak-proof delivery of wellness services. To be used for leak proof distribution of fertilizer subsidy, TB eradication programme, Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana, Mother and Child Welfare Schemes etc.

The government has also talked about giving the benefit of this digital voucher to the private sector employee welfare and corporate social. This app is not released as a normal payment app. Soon you will be able to get many services through e-RUPI as it is released today by the government. E-RUPI will be spread across the country through SMS string or QR code.

What is the significance of e-RUPI digital payment?

Developed as a voucher based payment system, this e-rupee digital payment system is being considered very effective. Being a voucher based payment system, it is considered quite secure for payment. Due to the uniqueness of the underlying asset and its purpose, it cannot be considered a virtual currency.

The focus was on developing this central bank digital currency for a long time by the government. Today this voucher based payment system will be launched by the Government of India. It is expected that the voucher based payment system will prove to be very secure. You will soon be able to use the e-rupee digital payment system. Soon an online app will be launched by the government for this. You can write us your questions and answers related to your e-Rupi Digital Payment in the comment box below.

Banks live with e-RUPI System

S/No Bank Name Issuer Acquirer Acquiring App/ Entity
1 Axis Bank ✔ ✔ Bharat Pe
2 Bank of Baroda ✔ ✔ BHIM Baroda Merchant Pay
3 Canara Bank ✔ N/A
4 HDFC Bank ✔ ✔ HDFC Business App
5 ICICI Bank ✔ ✔ Bharat Pe & PineLabs
6 Indusind Bank ✔ N/A
7 Indian Bank ✔ N/A
8 Kotak Bank ✔ N/A
9 Punjab National Bank ✔ ✔ PNB Merchant Pay
10 State Bank of India ✔ ✔ YONO SBI Merchant
11 Union Bank of India ✔ N/A

 

Benefits of e-RUPI Digital Payment

benefits for corporates

  • Corporates can enable the well being of their employees.
  • There is no need for any physical issuance to end digital transactions and thereby reducing the cost.
  • Voucher redemption can be tracked by the issuer.
  • Quick, secure and contactless voucher delivery.

benefits for hospitals

  • Easy and secure – authorized through voucher verification code.
  • Hassle free and contactless payment collection – No cash or card operations required.
  • Quick Redemption Process – Vouchers can be redeemed in few steps and less fallout due to pre-blocked amount.

benefit to the consumer

  • Contactless – The beneficiary should not carry the printout of the voucher.
  • Easy Redemption – 2 step redemption process.
  • Safe and secure – The beneficiary is not required to share personal details during redemption hence confidentiality is maintained.
  • No digital or bank presence required – The consumer to redeem the voucher need not have a digital payment app or bank account.

Download e-RUPI Digital Payment Mobile App

  • First of all open Google Play Store or Apple App Store in your mobile phone.
  • Now in the search box you have to enter NPCI eRupee App Download.
  • After that, you have to click on the Search button.
  • A list of apps will be displayed in front of you.
  • You have to click on the first option.
    After this, you have to click on the Install tab.
  • The e-RUPI Digital Payment Mobile App will be downloaded on your device.

 

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