e-RUPI Benefits | e RUPI Features & Working Process | Download E-RUPI Mobile Application |
The honourable Prime Minister of India Mr. Narendra Modi has launched digital initiatives from time to time. Over the last few years, a kind of digital revolution has happened in India. The citizens have become more aware of the digital modes of payments which have improved the standard of living. Today through this article we are going to tell you about the e-RUPI digital payment platform. This platform is an instrument through which its users can make digital payments. By reading this article you will get to know complete details of this payment mechanism like its objective, benefits, working, download procedure, etc. So if you want to get complete details regarding the e-RUPI digital payment platform then you have to go through this article very carefully till the end.
What is e-RUPI?
On 2 August 2021, the Prime Minister of India Mr. Narendra Modi is going to launch a digital payment platform called e-RUPI Digital Platform. This platform is a cashless and contactless instrument that will be used for making digital payments. It is a QR code or SMS string-based e-voucher which will be delivered to the mobile of the users. The users will be able to redeem this voucher without any digital payment app, internet banking, or card. This digital payment platform has been developed by the national payments corporation of India on its UPI platform. The collaborating partners are the Department of Financial Services, the Ministry of health and family welfare, and the national health authority. This initiative will connect the sponsor of services with the beneficiaries and service providers. The connection will held in a digital manner without any kind of physical interface.
Uses Of e-RUPI Digital Payment Platform
With the help of the e-RUPI platform, the payment of the service provider will be made only after the completion of a transaction. This payment platform will be prepaid in nature which does not require any kind of intermediary to make payment of the service provider. Other than that this platform can also be used for delivering services under schemes that are meant for providing drugs and nutritional support like mother and child welfare scheme, TB eradication program, drug and diagnostic under a scheme like Ayushmann Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc. The private sector can also leverage these digital vouchers for their employee welfare and corporate social responsibility programmes. Leak-proof revolutionary delivery of welfare services will be ensured through this initiative.
Voucher Issuing Procedure
The e-RUPI digital payment system has been developed by the National Payment Corporation of India on its UPI platform. The national payment corporation of India has boarded banks that will be the issuing authority of the voucher. The corporate or government agency is required to approach the partner bank (private and public sector lenders) along with the details of the specific person and purpose for which the payment is required to be made. The identification of beneficiaries will be done by using their mobile number voucher allocated by the bank. This platform will be our revolutionary digital initiative which will improve the standard of living and make the procedure of payment simple.
Here’s everything you need to know about e-RUPI
— PIB India (@PIB_India) August 2, 2021
About National Payment Corporation Of India
National Payment Corporation of India is an organisation which is responsible for operating retail payments and settlement systems in India. This organisation has been started by the Reserve Bank of India and Indian banks’ association. This organisation works under the provision of payment and settlement systems act 2017 in order to create robust payment and settlement infrastructure in India. National payment Corporation of India is a non-profit organisation which works under the provision of section 8 of companies act 2013. NPCI is also responsible for maintaining the infrastructure for the banking system in India for physical and electronic payment and settlement systems through the use of technology.
This organisation focuses on bringing innovation in the payment system by introduction of technology. The promoter banks of NPCI are State bank of India, Punjab national bank, bank of Baroda, Canara bank, Union Bank of India, bank of India, ICICI bank, HDFC bank, Citibank and HSBC.
Key Highlights Of e-RUPI Digital Payment
|Name Of The Article||e-RUPI Digital Payment|
|Launched By||Government Of India|
|Beneficiary||Citizens Of India|
|Objective||To Provide Cashless And Contactless Instrument For Making Digital Payments|
Objective Of e-RUPI Digital Payment
The main objective of the e-RUPI digital payment platform is to provide a cashless and contactless payment system so that citizens can make digital payments without any kind of difficulty. With the help of this payment platform, users can make payments in a secure manner. This payment platform uses QR code or SMS string-based e-voucher which will be delivered to the mobile of the beneficiary. e-RUPI digital payment platform ensures the timely payment of the services without the involvement of an intermediary. Users are not required to carry any cards or digital payment app or have internet banking access in order to make payments which will make the payment process simple and secure
List Of Banks That Are Live With e-RUPI
|Name of Banks||Issuer||Acquirer||Acquiring App|
|Union Bank of India||Yes||No||NA|
|State bank of India||Yes||Yes||YONO SBI Merchant|
|Punjab national bank||Yes||Yes||PNB Merchant Pay|
|ICICI bank||Yes||Yes||Bharat Pe and PineLabs|
|HDFC bank||Yes||Yes||HDFC Business App|
|Bank of Baroda||Yes||Yes||BHIM Baroda Merchant Pay|
|Axis bank||Yes||Yes||Bharat Pe|
Features Of e-RUPI Digital Payment
- The honourable Prime Minister of India Mr Narendra Modi is going to launch a digital payment platform called e-RUPI digital platform on 2 August 2021
- This platform will be cashless and contactless instrument
- Through this system users can make digital payments through QR code or SMS string based e-voucher
- This voucher will deliver to the mobile of the users
- Users can redeem this voucher without any payment app, internet banking or card
- This payment platform has been developed by national payment Corporation of India on its UPI platform
- The collaborating partners are the Department of financial services, Ministry of health and family welfare and national health authority
- Through this initiative the sponsor of services will be connected with the beneficiaries and service providers. This connection will be held in a digital manner without any kind of physical interface
- Through this platform the payment to the service provider will be made after the completion of transaction
- This payment platform is prepaid in nature
- e-RUPI does not require any kind of service provider to make payment
- This platform can also be used for providing services under schemes which are meant for providing drugs and nutritional support.
Benefits Of e-RUPI
|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 secureVoucher can be redeemed in few stepsHospitals are not required to handle cash hence hasslefree and contactless payments can be ensuredThe voucher is authorised 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|
Other Services Provided By NPCI
National Payment Corporation of India is responsible for operating retail payment and settlement systems in India. There are few services that are offered by national payment Corporation of India which are as follows:-
Unified payment interface (UPI)
Through this feature the multiple bank accounts of a person can be merged into a single mobile application.
Rupee and Payment (RuPay)
It is a domestic card payment network of India which accept at ATMs, POS devices and e-commerce websites throughout the country. It is a secure network that protects the users against anti-phishing
Bharat Interface For Money (BHIM)
BHIM is an app through which you can make simple, easy and quick payments and transactions by using your unified payment interface. Instant bank to bank payments can make through BHIM and the user can also collect money using just mobile number or virtual payment address
National Automated Clearing House (NACH)
Through NACH interbank high-volume electronic transactions which are repetitive and periodic in nature are facilitated. This platform is used by banks, financial institutions, corporate and government
Immediate Payment Service (IMPS)
Through IMPS 24×7 interbank electronic fund transfer ensure through multiple channels like mobile, internet, ATM, SMS etc. It is a robust and real-time fund transfer system which transfers the fund instantly within banks across the country. IMPS is totally safe and economical.
National Electronic Toll Collection (NETC)
in order to meet the electronic tolling requirement of Indian market the National Payment Corporation of India has developed a national electronic toll collection. Through this platform nationwide toll payment solution offer which includes clearing house service for settlement and dispute management
through BHIM Aadhaar merchants are unable to receive digital payments from the customers. This platform works through Aadhaar authentication. Through this platform merchants accept payment from customers of banks by authenticating their biometrics
Adhaar Enabled Payment System(AePS)
AePS Is the online interoperable financial inclusion transaction which is done at POS through the business correspondent of the bank by using Aadhaar authentication. You can do six types of transactions through this platform. Customers require to input only bank name, Aadhaar number and fingerprint captured during enrolment in order to make payment
National Financial Switch(NFS)
It is a network which has 37 members and connects 50,000 ATMs. This platform establishes strong and sustainable operational models having in-house capabilities. The operational functions and services in national financials switch are at par with other global ATM networks.
Cheque Truncation System(CTS)
It is a process of clearing cheques electronically rather than processing the cheque physically. This process takes place by presenting a bank en-route to the paying bank branch. National Payment Corporation of India is responsible for Managing this platform. This system is also going to save a lot of time
View List Of Live Hospitals On e-RUPI
- First of all go to the official website of national payment Corporation of India
- The home page will open before you
- On the homepage click on what we do Option
- Now you have to click on UPI
- After that you have to click on e-RUPI live partners
- After that you have to click on Live Hospitals on e-RUPI
- A PDF file will appear before you
- In this PDF file you can view list of live hospitals on e-RUPI.
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 e-RUPI Digital payment
- After that you have to click on search
- A list of apps will display before you
- You have to click on the first option
- After that you have to click on install
- e-RUPI digital payment mobile app will download in your device