New E-RUPI Crypto Currency launched by Government of India
The wait is over, New E-RUPI Crypto currency launched by Government of India.
It is an e-voucher based digital payment platform launched by Indian Government. On August 2, 2021, the platform’s digital payment platform was launched. The article below explains everything about the program and its benefits. To learn more about the event, take a look below at the video.
This program would make sure that beneficiaries receive their benefits in a leak-proof manner.
According to the PMO, “It would ensure that benefits reach their intended beneficiaries in a targeted manner and leak-proof.” Learn all about eRUPI by reading the article.
What is E-RUPI?
It can be thought of as a prepaid gift voucher such as Sodexo coupons that can be used at certain accepting centres.
It is an electronic coupon that can be accessed from any device, without the need for any mobile banking or credit card.
The platform connects the service providers and sponsors to each other without the need for any physical interaction.
The issuing entities will include banks from the private and public sectors.
- e-RUPI can be used to make digital payments.
- It can be used as an electronic voucher that is based upon a QR code, or a SMS string. The beneficiary would receive it directly.
- This would make it a less contact method.
- e-RUPI allows sponsors to connect with beneficiaries without having to make contact.
- The beneficiaries and e-service providers do not communicate with each other.
- Prepaid services are a way to ensure that payment is made after the transaction has been completed.
- It is easy to pay the service provider because it is pre-paid.
- It’s a one-time payment method that allows users to redeem the coupon without the need for a card, digital payment apps, or internet banking.
- Private companies can also use e vouchers as part of their employee welfare or corporate social responsibility. This information was provided by the PM Office in a statement.