e RUPI Digital Payment Solution - QR Code / String Based e-Voucher for Cashless Payments

e RUPI Digital Payment Solution has been launched by Prime Minister Narendra Modi as a person and purpose specific digital payment solution offered by central government. PMO stated "Over the years, Prime Minister Modi has always championed digital initiatives, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touchpoints between the government and the beneficiary. The concept of electronic voucher takes forward this vision of good governance." Through this article, you can learn more about e-Rupi Cashless / Contactless payment system.

What is e RUPI Digital Payment Solution?

National Payments Corporation of India (NPCI) in association with Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution - "e-RUPI".

The users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking access, at the merchants accepting e-RUPI. e-RUPI would be shared with the beneficiaries for a specific purpose or activity by organizations or Government via SMS or QR code.

This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential. The entire transaction process through this voucher is relatively faster and at the same time reliable, as the required amount is already stored in the voucher.

e-Rupi Benefits for Corporates

• Corporates can enable well-being of their employees
• End to end digital transaction and doesn’t require any physical issuance hence leading to cost reduction
• Voucher redemption can be tracked by the issuer
• Quick, safe & contactless voucher distribution

e-RUPI Benefits for Merchants

• Easy & Secure - Voucher is authorized via a verification code
• Hassle free & Contactless payment collection - Handling of cash or cards is not required
• Quick redemption process - The voucher can be redeemed in a few steps and lesser decline due to pre-blocked amount

e-RUPI Benefits to the Consumer

• Contactless - Beneficiary should not carry a print out of the voucher
• Easy redemption - 2 step redemption process
• Safe and Secure - Beneficiary doesn’t need to share personal details while redemption hence privacy is maintained
• No digital or bank presence required - Consumer redeeming the voucher need not have a digital payment app or a bank account

PMO on e RUPI Digital Payment Solution

PMO said e-RUPI is a cashless and contactless instrument for digital payment. e Rupi is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries. 

Users of the erupi seamless one-time payment mechanism shall be able to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.

e-RUPI Development by NPCI on UPI Platform

e-RUPI has been developed by National Payments Corporation of India on its UPI platform, in collaboration with the following departments / ministries:-

• Department of Financial Services
• Ministry of Health & Family Welfare
• National Health Authority

e-RUPI Live Partners

Sr. No.	Bank Name	Issuer	Acquirer	Acquiring App / Entity
1	AU Small Finance Bank	✔	✔	Getepay Merchant
2	Axis Bank	✔	✔	BharatPe
3	Bank of Baroda	✔	✔	BHIM Baroda Merchant Pay
4	Bank of India	✔		NA
5	Bank of Maharashtra	✔		NA
6	Canara Bank	✔	✔	Canara eRUPI Acquirer
7	Central Bank of India	✔		NA
8	Federal Bank	✔		NA
9	HDFC Bank	✔	✔	HDFC Business App & Ezetap
10	ICICI Bank	✔	✔	BharatPe and Pine Labs
11	Indusind Bank	✔		NA
12	Indian Bank	✔	✔	IB Corporate Merchant
13	Indian Overseas Bank	✔		NA
14	Karnataka Bank	✔		NA
15	Karur vysya Bank	✔		NA
16	Kotak Bank	✔		NA
17	Paytm Payment Banks		✔	Paytm Business App
18	Punjab National Bank	✔	✔	PNB Merchant Pay
19	State Bank of India	✔	✔	YONO SBI Merchant
20	UCO Bank	✔	✔	BHIM UCO UPI
21	Union Bank of India	✔		NA

e-RUPI Cashless / Contactless Payment System Features

We are now mentioning the benefits provided by the e-RUPI Cashless / Contactless Payment System:-

• e-RUPI connects the service sponsors with the beneficiaries and service providers in a digital manner without any physical interface. 
• e RUPI Digital Payment Solution also ensures that the payment to the service provider is made only after the transaction is completed. 
• This cashless / contactless system is prepaid in nature. 
• As e-RUPI platform is prepaid in nature, it assures timely payment to the service provider without involvement of any intermediary.
• It is expected to be a revolutionary initiative in the direction of ensuring a leak-proof delivery of welfare services.
• e-RUPI Digital Payment Solution can also be used for delivering drugs and diagnostics services under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana.
• It is a QR Code or String Based e-Voucher which a person and purpose specific.
• e RUPI Digital Payment Solution 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, fertiliser subsidies etc.

Even the private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.

References

Download NPCI e-RUPI Product Booklet PDF - https://www.npci.org.in/PDF/npci/e-rupi/Product-Booklet.pdf

e Rupi Product Overview - https://www.npci.org.in/what-we-do/e-rupi/product-overview

e-Rupi Circular - https://www.npci.org.in/what-we-do/e-rupi/circular