What is this e-RUPI? The nature of the eRUPI is like a voucher. It is a one-time cashless. Also, a contactless digital payment mechanism. Users don’t need any card, payment app, or net banking to redeem the voucher.
e-RUPI, a new digital payment mode was launched on Monday.
In this thread🧵, we are going to talk about this initiative in detail.
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Objective:
We know that the people who need welfare assistance don’t always receive it, which shouldn’t be the case.
The government have come with different initiatives to curb the leakages in the delivery of welfare services. E-RUPI is the latest one.
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What is this e-RUPI?
The nature of the eRUPI is like a voucher.
It is a one-time cashless.
Also, a contactless digital payment mechanism.
Users don’t need any card, payment app, or net banking to redeem the voucher.
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Ways to receive E-RUPI
There are 2 ways to take e-RUPI:
1. QR code
2. SMS.
So, there is almost no possibility of e-RUPI getting misused.
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The beneficiary will get either a QR code or SMS to their phone.
They can later use e-RUPI to avail medicines and other support facilities under different government schemes.
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Safety:
The payment is considered to be safe as it is prepaid in nature.
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One can only use the voucher for the intended purpose.
For instance, E-RUPI meant for medicines 💊 or getting medical services can only be used to buy medicines and get medical services.
The beneficiary cannot withdraw cash or transfer it to anyone.
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Cryptocurrency??
Let’s put it to rest.
It is not cryptocurrency.
It does sound like one, but it isn’t.
It is a prepaid voucher that aims to provide benefits directly to the beneficiaries without any bank account or payment app.
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National Payments Corporation of India (NPCI) along with other government departments have developed e-RUPI.
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This was a short gist that on E-RUPI.
We hope you liked it.
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Let me know your thoughts on E-RUPI.
Thanks for reading. 😀
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