e-RUPI is a completely cashless and contactless digital payments platform that will be delivered through an SMS string or a QR code to mobile phones.
Moving to the first steps of having a digital currency in India, Prime Minister Narendra Modi will launch the digital payment system “e-RUPI” on Monday 2nd August at 4:30 pm via video conferencing. In this new payment system, the beneficiaries will receive an electronic voucher or QR code that will be redeemable without online banking, payment application, and credit or debit card.
In simple words “e-RUPI” is a new digital payment platform it works based on OR-code or SMS string systems, which have been developed by the National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare, and the National Health Authority.
The beneficiaries will receive a voucher directly through an SMS to the mobile number, instead of depositing the cash into the bank account. Before sending the e-RUPI coupons to the citizen first they verify the mobile number and ID Proof.
Prime Minister Said that e-RUPI will connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
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