Thursday, March 28, 2024

PM Narendra Modi will launch a new digital payment solution e-RUPI on August 2 | Technology News

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Prime Minister Narendra Modi will launch e-RUPI through a video conference on August 2, which is a digital payment solution for individuals and specific purposes.

The Prime Minister’s Office emphasized that Modi has always supported digital plans. Over the years, a number of plans have been launched to ensure that benefits reach their intended beneficiaries in a targeted and leak-proof manner. The point of contact between the government and the beneficiaries is limited.

The government aims to advance the concept of electronic vouchers with a vision of good governance.

The statement said that in addition to being a non-cash and contactless tool for digital payment, it is also an electronic voucher based on a QR code or text message string that can be sent to the beneficiary’s mobile phone.

It said that users of this seamless one-time payment mechanism will be able to redeem coupons at the service provider without a card, digital payment application or online banking access.

It was developed by the National Payment Corporation of India in cooperation with the Ministry of Financial Services, the Ministry of Health and Family Welfare, and the National Health Service on its UPI platform.

The statement stated that e-RUPI digitally connects the initiator of the service with the beneficiary and service provider without any physical interface.

It also ensures that payment is made to the service provider only after the transaction is completed.

The statement said that it is prepaid in nature and can ensure timely payment to the service provider without any intermediary involvement.

The PMO stated that it expects this to be a revolutionary move aimed at ensuring the provision of leak-free welfare services.

It can also be used to provide services under the Maternal and Child Benefit Plan, Tuberculosis Eradication Plan, Medication and Diagnosis Plan (such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, Fertilizer Subsidy, etc.) under the Medication and Nutrition Support Plan.

The statement said that even the private sector can use these digital vouchers as part of its employee benefits and corporate social responsibility programs.

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