e-RUPI Digital Payment: The benefits of e-RUPI, how it works, and how to download the app from the App Store.

e-RUPI Digital Payment: The benefits of e-RUPI, how it works, and how to download the app from the App Store.

The honorable Prime Minister of India, Mr. Narendra Modi, has launched some digital initiatives from time to time. Over the last few years, there has been a kind of digital revolution in India. The citizens have become more aware of the digital modes of payments which have improved their standard of living. Today we will tell you about the e-RUPI digital payment platform. This platform is a way to make digital payments. If you read this article, you can find out all about how it works. It has one objective, and that is to be very secure for people who need to make payments for goods and services.

e-RUPI Digital Payment

What is e-RUPI?

On 2 August 2021, the Prime Minister of India is going to launch a digital payment platform called e-RUPI Digital Platform. This platform will be used for making digital payments. It is a QR code or SMS string-based e-voucher that will be delivered to the mobile of the user. The user can redeem this voucher without any digital payment app, internet banking, or card.This is a digital payment platform that has been developed for the national payments corporation of India. The Department of Financial Services from the Ministry of Health and Family Welfare and some National Health Authority are collaborating to create this connection. This connection will be done in a digital way without any physical interface.

e-RUPI

Uses Of e-RUPI Digital Payment Platform

This payment platform will make sure that the service provider is paid only after the customer completes a purchase. It is an “e-RUPI” platform where people can buy things without any middle person. The e-RUPI platform can also be used for delivering services like drugs and vitamins to pregnant women, TB medicine, or fertilizers if the customer has money from a government program like “Ayushmann Bharat Pradhan Mantri Jan Arogya Yojana.”In this program, the private sector can use digital vouchers to help their employees and do some good. They will make sure that people cannot leak information about this.

Uses Of e-RUPI Digital Payment Platform

Voucher Issuing Procedure

The e-RUPI digital payment system is a new way to pay for things. You can pay with your phone. The system was made by the National Payment Corporation of India and has been put on their UPI platform (UPI means “Unified Payments Interface”). Banks are needed to be able to issue these vouchers. If you want to use the e-RUPI digital payment system, then you have to tell the bank who will be paying and what they will be paying for. This platform will identify people by phone number. The goal is to improve the standard of living and make it easy to process payments.

About National Payment Corporation Of India

National Payment Corporation of India is an organization that works to provide payment and settlement systems in India. It was started in 2002 by the Reserve Bank of India and the Indian Banks’ Association. They work under the bill from 2017 called the Payment and Settlement Systems Act. The National Payment Corporation of India is a non-profit company working under Section 8 of the Companies Act, 2013.NPCI is the Indian company that oversees the banking system. They make sure everything is working properly and use technology to do this.

This organization is focused on bringing new technology to the banking system. The banks that work with them are State Bank of India, Punjab National Bank, Union Bank of India, ICICI bank, HDFC bank, and Citibank.

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 goal of the e-RUPI digital payment platform is to give you an easy way to make payments. People can do this without any kind of difficulty because it’s cashless and contactless. When you use the payment platform, it will be secure and work with QR code or SMS string-based e-vouchers. The e-vouchers will go to your mobile phone as soon as they are sent out. The e-RUPI digital payment platform is a new way to pay for services. Users do not need to carry any cards or have internet banking access in order to use it. Payments will be made on time and securely.

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

  • Prime Minister Narendra Modi is going to launch a new digital payment system called e-RUPI.
  • This will be cashless and contactless.
  • It will work through QR codes or SMS strings with e-vouchers.
  • This voucher will be delivered to the mobile of the people who are using it.
  • When they want to use it, they can redeem it without an app for payment, or internet banking.
  • The company that made this voucher is called the National Payment Corporation of India. They made this payment platform for UPI (Unified Payments Interface).
  • The partners are the Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority.
  • Through this initiative, the person who will be providing the service can find and connect with the people they are going to provide services to. The connection is done in a digital way without any kind of physical interface.
  • Payment for the service is made when it’s done. This payment system is prepaid. It does not need any kind of service provider to make payments on behalf of other people.
  • This platform can also be used for services under schemes that are meant for providing drugs and nutritional support for people.

Benefits Of e-RUPI

Benefits for Consumers  Payment processes are contactlessOnly have to follow a 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 Voucher can be redeemed in few steps Hospitals are not required to handle cash hence hasslefree and contactless payments can be ensured The voucher 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 The issuer can track the voucher redemption It 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 in charge of operating retail payment and settlement systems in India. The following are the services offered by the National Payment Corporation of India:-

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 card payment network in India. It can be used at ATMs, POS devices and e-commerce websites. It is a safe network that protects you against phishing.

Bharat Interface For Money (BHIM)

BHIM is a way to do simple transactions. You can pay for things with it, and collect money. It is easy to use it because you just need your phone number or a virtual payment address.

National Automated Clearing House (NACH)

NACH is a platform that allows banks and other financial institutions to quickly transfer money when they make deals. This helps them save time.

Immediate Payment Service (IMPS)

Through IMPS 24×7 interbank electronic fund transfer, you can transfer money between banks. It is a system that moves money between banks instantly and is safe.

National Electronic Toll Collection (NETC)

In order to meet the electronic toll requirements in India, the National Payment Corporation of India has developed a toll-collection system. This includes an electronic payment system that will collect payments nationwide. It also includes clearing house services and dispute management services.

BHIM Aadhaar

Through BHIM Aadhaar, merchants are unable to receive payments from their customers. This platform works when people use their fingerprints to authenticate themselves. Merchants can accept payment from customers of banks this way.

Adhaar Enabled Payment System(AePS)

AePS is an online system that allows you to make payments at a POS machine. You need your bank name, your Aadhaar number, and your fingerprint is taken when you enrolled in the system. There are six transactions that can be made through this system.

National Financial Switch(NFS)

This is a network that has 37 members and connects 50,000 ATMs. This network also has in-house capabilities. The operational functions and services of the national financial switch are equal to other global networks.

Cheque Truncation System(CTS)

Clearing cheques electronically means getting rid of the old system. In this process, you will take your bank branch to the paying branch and they will clear it. It saves 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 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 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 in your mobile phone
  • Now in the search box you have to enter 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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