Will be launched like prepaid gift voucher, can be redeemed with debit or credit card
Prime Minister Narendra Modi has launched digital payment solution e-RUPI today. e-RUPI is a cashless and contactless means of making digital payments. Which is SMS or string based e-voucher through QR code. This is the first step towards digital currency on behalf of Narendra Modi and his government. Initially, it will be like a prepaid gift voucher, which can be redeemed with the help of credit or debit card. The e-RUPI has to be connected to the sponsors of the digital service without any physical interface.
A UPI platform has been developed by NPCI through e-RUPI system. Any government agency has to approach partner banks to get this. However, along with this information will also have to be given that for whom and for what purpose it is being taken. The beneficiary will be identified by its mobile number and its service provider will be given a voucher in the name of a person only to that person. The government said that it will verify the leak-proof delivery of e-RUPI services.
— BJP (@BJP4India) August 2, 2021
The Prime Minister said that this voucher will play a big role in making digital behavior effective in the country. E-RUPI can be used in place of cash in any organization. Under e-RUPI, it will be ensured that the purpose for which it has been paid is used only and only for that thing.