What-is-e-RUPI-New-Digital-Payment-and-List-of-banks

What is e-RUPI – Know All About The New Digital Payment and List of banks | Download App

Complete Information of e-RUPI New Digital Payment | ई-आरयूपीआई (e-RUPI) क्या है ? कैसें काम करता है? – नए डिजिटल भुगतान और बैंकों की सूची के बारे में सब कुछ जानें in Hindi | Download e Rupi App | How to eRUPI e-Voucher Redeem | e RUPI Features & Working Process | Download E-RUPI Mobile Application

What-is-e-RUPI-New-Digital-Payment-and-List-of-banks

Dear readers, Prime Minister Narendra Modi will launch an e-RUPI New Digital Payment / ई-आरयूपीआई नया डिजिटल भुगतान cashless payment solution, which will work on the basis of electronic e-vouchers. The system was developed by the National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services, the Ministry of Health, and the National Health Authority. e-RUPI (रूपी) is a cashless and contactless digital payment method, which will be delivered to the beneficiaries’ mobile phones in the form of an SMS or QR code string.

The Prime Minister has always championed digital initiatives. Over the years, many programs have been launched to ensure that benefits reach their intended beneficiaries in a targeted and leak-proof manner, with limited points of contact between the government and the beneficiary. The concept of e-vouchers drives this vision of good governance.

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What is e-RUPI and How Will Work? – ई-रूपी क्या है? कैसें काम करता है?

About e-RUPI in Details

e-RUPI is a cashless and contactless digital payment tool option. It is a QR code or e-voucher based on an SMS thread, which is delivered to the mobile phone of the recipients. Users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments application, or access to the service provider’s online banking services. It was developed by the National Payments Corporation of India on its UPI platform, in association with the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority.

Benefits-of-the-e-RUPI-payment-platform

e-RUPI connects service sponsors with beneficiaries and service providers in a digital way without any physical interface. It also ensures that payment to the service provider is made only after the transaction is completed. Since they are prepaid in nature, they ensure timely payment to the service provider without the involvement of any intermediary.

It is expected to be a revolutionary initiative in the direction of ensuring the provision of leak-proof social welfare services. It can also be used to provide services under schemes aimed at providing medicines and nutritional support under mother and child care schemes, TB eradication programmes, medicines, and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc. The sector can take advantage of these digital vouchers as part of its employee welfare and CSR programs.

[#eRUPI] Latest and Upcoming Updates News of eRUPI Digital Payment

Prime Minister Shri Narendra Modi will launch e-RUPI, a people-and-purpose digital payment solution on August 2, 2021, at 4:30 pm via video conferencing.

What is e-RUPI in Hindi – भारतीय राष्ट्रीय भुगतान निगम ने कैशलेस लेनदेन के लिए एक नई योजना शुरू की है। ई-रुपया योजना (ई-आरयूपीआई) वर्तमान में उपलब्ध भुगतान विधियों की तुलना में कैशलेस और संपर्क रहित तरीके से सरल तरीके से पेश की जाएगी।

ई-रूपी रुपये भुगतान में, नकद भुगतान लाभार्थी के मोबाइल फोन पर एक इलाज कोड या एसएमएस स्ट्रिंग वाउचर (Vouchers)के माध्यम से भेजा जाता है। प्रधानमंत्री कार्यालय ने एक बयान में कहा कि लाभार्थी जहां चाहे वाउचर या क्यूआर कोड का इस्तेमाल कर सकता है। केंद्र ने डिजिटल लेनदेन में और तेजी लाने के लिए प्रक्रिया के हिस्से के रूप में ई-रुपये प्रणाली के कार्यान्वयन की घोषणा की है।

Highlights Of e-RUPI Digital Payment

Article Namee-RUPI Digital Payment
Launched ByGovernment Of India
BeneficiaryCitizens Of India
ObjectiveTo Provide Cashless And Contactless Instrument For Making Digital Payments
Official Websitehttps://www.npci.org.in/

How Will These Vouchers Be issued?

The system is built by NPCI on its UPI platform and the banks that will be the issuing entities have been included. Any company or government agency will have to contact partner banks, which are both private and public sector or lenders, with details of specific people and the purpose for which the payments are to be made. Beneficiaries will be identified using their mobile phone number and the assigned voucher will be delivered by the bank to the service provider in the name of a specific person to that person only.

  • The e-RUPI digital payment system is developed by the National Payment Corporation of India on its UPI platform.
  • The NPCI has ascended the banks to the banks which will be the authority to issue the voucher.
  • The company or government agency is required to contact the partner bank (both private and public lenders) along with the details of the specific person and the purpose for which the payment is to be made.
  • Beneficiaries will be identified using their mobile phone number voucher assigned by the bank.
  • This platform will be our revolutionary digital initiative that will improve the standard of living and facilitate payment procedures.
e-RUPI-New-Digital-Payment

Benefits of the e-RUPI Payment Platform

  • Recipients of the one-time seamless payment arrangement, e-RUPI, will be able to receive the voucher amount at a service provider center without the need for a card, digital payment application, or access to online banking.
  • e-RUPI connects service sponsors to beneficiaries and service providers in a digital manner without any physical interface, ensuring that payment to the service provider is only made after the transaction is completed.
  • They are prepaid, which makes it possible to make timely payments to the service provider without the intervention of any intermediary.
  • The government digital payment platform aims to provide a revolutionary initiative towards ensuring the provision of corruption-free social welfare services.
  • Apart from regular payments, it can also be used for services under schemes like provision of medicines and food assistance under mother and child care schemes, tuberculosis TB eradication programmes, medicines, and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidy, etc.
Benefits for Consumers Payment processes is contactlessOnly have to follow two-step redemption processNo need to have any kind of digital payment app or bank accountConsumer is not required to share his or her personal details In order to maintain privacy
Benefits for Hospitals The voucher is prepaid hence the payment process is completely secure voucher can be redeemed in a few steps hospitals are not required to handle cash hence hasslefree and contactless payments can be ensured voucher is authorized through a verification code which makes the payment process easy and secure
Benefits for Corporates The well-being of employees can be enabled by the corporateThe voucher distribution quick, safe and contactlessThe issuer can track the voucher redemptionIt leads to cost reduction because the transactions are digital and doesn’t require any physical issuance

Important Points for the New Digital Payment of e-RUPI

Some of the benefits of e-RUPI are:

  • eRUPI is a cashless and contactless digital payment.
  • It connects service sponsors and beneficiaries digitally.
  • Ensures leak-proof delivery for various care services.
  • It is a QR code or electronic voucher based on an SMS thread, which is delivered to the mobile phone of the recipients.
  • Users of this seamless one-time payment mechanism will be able to redeem the voucher without a card, digital payments app, or access to online banking, at the service provider
  • e-RUPI connects service sponsors with beneficiaries and service providers in a digital way without any physical interface.
  • It also ensures that payment to the service provider is made only after the transaction is completed.
  • Since they are prepaid in nature, they ensure timely payment to the service provider without the involvement of any intermediary.
  • These digital vouchers can also be used by the private sector for employee welfare and corporate social responsibility programs.

What is the importance of e-RUPI and how is it different from the digital currency?

The government is already working on developing a central bank digital currency, and the launch of e-RUPI will likely highlight the gaps in the digital payments infrastructure that will be essential to the success of the future digital currency. In fact, e-RUPI is still backed by the current Indian Rupee as the primary asset, and the specificity of its purpose makes it different from virtual currency and brings it closer to a coupon-based payment system.

How to Use e-RUPI Vouchers and a List of Banks

These coupons are similar in nature to prepaid e-gift cards. The cards code can be shared either by SMS or the OR code can be shared. These e-vouchers will be personal and purpose-specific. For example, if you have an e-RUPI coupon for the Covid-19 vaccine, it should only be redeemed for vaccines.

According to the National Health Authority (NHA), there are eight banks already living with e-RUPI, including State Bank of India, HDFC Bank, Axis Bank, Punjab National Bank, Bank of Baroda, Canara Bank, IndusInd Bank, and ICICI Bank.

List Of e-RUPI Live Banks

Sr. No.Bank NameIssuerAcquirerAcquiring App / Entity
1Axis BankBharat Pe
2Bank of BarodaBHIM Baroda Merchant Pay
3Canara Bank NA
4HDFC BankHDFC Business App
5ICICI BankBharat Pe & PineLabs
6Indusind Bank NA
7Indian Bank NA
8Kotak Bank NA
9Punjab National BankPNB Merchant Pay
10State Bank of IndiaYONO SBI Merchant
11Union Bank of India NA

For more information about this scheme or plan – please visit here
https://pib.gov.in/PressReleseDetail.aspx?PRID=1741110

e-RUPI live partners Website Link –
https://www.npci.org.in/what-we-do/upi/erupi-live-partners
Live Hospitals on e-RUPI PDF Download – https://pmmodiyojana.in/wp-content/uploads/2021/08/live-hospitals.pdf

Other Services Offered by NPCI

The Indian National Payments Corporation is responsible for operating the retail payment and settlement systems in India. There are a few services provided by the National Payment Corporation of India which are as follows:-

Unified Payment Interface (UPI)

Through this feature, multiple bank accounts of a person can be combined into a single mobile app.

Rupee and payment (RuPay)

It is India’s domestic payment network that accepts ATMs, POS machines, and e-commerce websites across the country. It is a secure network that protects users from anti-phishing.

Bharat Money Interface (BHIM)

BHIM is an application where you can make simple, easy, and fast payments and transactions using your unified payment interface. Bank-to-bank instant payments can make payments through BHIM and users can also collect funds using only mobile numbers or virtual payment addresses.

National Automated Clearing House (NACH)

Through interbank NACH electronic e-transactions of high volume, recurring, and cyclical in nature are facilitated. This platform is used by banks, financial institutions, companies, and the government.

Immediate Payment Service (IMPS)

Through IMPS 24×7, it guarantees electronic e-money transfer between banks through multiple channels such as mobile, internet, ATM, SMS, etc. It is a powerful real-time money transfer system that transfers funds instantly within banks across the country. IMPS is completely safe and economical.

National Electronic Toll Collection (NETC)

In order to meet the e-tolls requirements of the Indian market, the National Payment Corporation of India has developed a national e-tolls package. Through this platform, offer a nationwide fee payment solution that includes a clearinghouse service for settlement and dispute management.

Adhaar Enabled Payment System (AePS)

AePS is an online interoperable financial inclusion transaction that takes place at the point of sale through a bank’s commercial correspondent using Aadhaar authentication. You can do six types of transactions through this platform. Customers are required to enter only their Bank Name, Aadhaar Number, and Fingerprint captured during registration in order to make payment.

BHIM Aadhaar

Through BHIM Aadhaar, merchants cannot receive digital payments from customers. This platform works through Aadhaar authentication. Through this platform, merchants accept payment from bank customers by authenticating their biometrics.

National Financial Switch (NFS)

It is a network of 37 members that connects 50,000 ATMs. This platform creates robust and sustainable operating models that have in-house capabilities. Operational functions and services in the national financial switch are on par with other global ATM networks.

Check transaction or Withdrawal System (CTS)

It is the process of clearing checks electronically rather than physically processing the check. This process is done by presenting a bank on its way to the branch of the bank that makes the payment. The Indian National Payment Corporation is responsible for managing this platform. This system will also save a lot of time.

How to Download the e-RUPI Digital Payment Mobile App?

  • First of all, you should go to the app download link.
  • Now the Play Store page will open. You should find the installation link and click on it.
  • Now you must fill out the online process by registering in this app.
  • After completing the online App process, you will continue to receive information related to any update.
  • The e-RUPI digital payment application will be downloaded to your device

Frequently Asked Questions About e-RUPI Digital Payment Solution

What is e-RUPI Digital Payment?

e-RUPI is a one-time use digital solution to facilitate cashless payment which is people and purpose solutions for different services like COVID vaccine, donations, corporate gift vouchers etc.

What is e-RUPI’s digital payment solution?

e-RUPI payment is a cashless and contactless tool for digital payments. It acts as an electronic e-voucher based on a QR code or SMS string, which is delivered to the mobile phones of the recipients.

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