e-RUPI Benefits | Features | Working Process

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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 know complete details of this payment mechanism like its objective, benefits, working, download procedure, etc. So if you want to get complete information regarding the e-RUPI digital payment platform, you have to go through this article very carefully until the end.

e-RUPI

What is e-RUPI?

On 2 August 2021, the Prime Minister of India, Mr Narendra Modi, will 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 that will be delivered to the users’ mobile. The users can 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 be held digitally without any physical interface.

e-RUPI Digital Payment

Uses Of e-RUPI Digital Payment Platform

With the help of the e-RUPI platform, the service provider’s payment will be made only after the completion of a transaction. This payment platform will be prepaid in nature which does not require any intermediary to make payment of the service provider. Other than that, this platform can also deliver services under schemes meant for providing drugs and nutritional support like a mother and child welfare schemes, TB eradication programs, pharmaceuticals, and diagnostic under a scheme like Ayushmann Bharat Pradhan MantriJan Arogya Yojana, fertilizer subsidies, etc. The private sector can also leverage these digital vouchers for their employee welfare and corporate social responsibility programs. Leak-proof revolutionary delivery of welfare services will be ensured through this initiative.

Voucher Issuing Procedure

The National Payment Corporation of India has developed the e-RUPI digital payment system 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 must be made. The identification of beneficiaries will be made 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.

About National Payment Corporation Of India

National Payment Corporation of India is an organization that is responsible for operating retail payments and settlement systems in India. This organization has been started by the Reserve Bank of India and the Indian banks’ association. This organization works under the payment and settlement systems act 2017 to create India’s total price and settlement infrastructure. National Payment Corporation of India is a non-profit organization that operates under section 8 of the 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 organization focuses on bringing innovation to the payment system by the 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
Official Website https://www.npci.org.in/
Year 2021

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 difficulty. With the help of this payment platform, users can securely make payments. This payment platform uses a QR code or SMS string-based e-voucher, which will be delivered to the beneficiary’s mobile. 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 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
Kotak bank Yes No NA
Indian bank Yes No NA
Indusind bank Yes No NA
ICICI bank Yes Yes Bharat Pe and PineLabs
HDFC bank Yes Yes HDFC Business App
Canara bank Yes No NA
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 a 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 the national payment 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.
  • Through this initiative, the sponsor of services will be connected with the beneficiaries and service providers. This connection will be held digitally without any physical interface.
  • Through this platform, the payment to the service provider will be made after completing a transaction.
  • This payment platform is prepaid in nature.
  • e-RUPI does not require any service provider to make payment
  • This platform can also be used for providing services under schemes that are meant for delivering drugs and nutritional support.

Benefits Of e-RUPI

Benefits for Consumers Payment processes is contactless Only have to follow two-step redemption process No need to have any kind of digital payment app or bank account Consumer 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. Coupons can be redeemed in few steps. Hospitals are not required to handle cash; therefore, hassle-free and contactless payments can be ensured. The coupon 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 corporate. The voucher distribution is quick, safe and contactless issuer can track the voucher redemption leads to cost reduction because the transactions are digital and don’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. Few services are offered by the 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 that accepts 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 a mobile number or virtual payment address

National Automated Clearing House (NACH)

Through NACH interbank high-volume electronic transactions, which are repetitive and periodic, are facilitated. This platform is used by banks, financial institutions, corporate and the 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 that instantly transfers funds within banks across the country. IMPS is 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

BHIM Aadhaar

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 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 to make payment

National Financial Switch(NFS)

It is a network that has 37 members and connects 50,000 ATMs. This platform establishes strong and sustainable operational models having in-house capabilities. The active functions and services in national financials switch at par with other global ATM networks.

Check Truncation System(CTS)

It is a process of clearing checks electronically rather than processing the check physically. This process takes place by presenting a bank 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 the 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 one-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 a 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 on your mobile phone
  • Now in the search box, you have to enter the e-RUPI Digital payment
  • After that, you have to click on the search
  • A list of apps will display before you
  • You have to click on the first option
  • After that, you have to click on the install
  • e-RUPI digital payment mobile app will download to your device

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