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e-RUPI Vouchers: New Era of Transparent and Efficient Welfare Programs

e-RUPI Vouchers

The e-RUPI voucher is expected to play a significant role in making Direct Benefit Transfer (DBT) more effective in digital transactions in the country. It is designed to be a symbol of India’s progress in connecting people’s lives with technology.

e-RUPI is a digital payment solution launched by the Hon’ble Prime Minister of India, Shri Narendra Modi, on August 2, 2021. It is a cashless and contactless instrument for digital payments that aims to create a digital payments ecosystem and ensure that welfare benefits reach those who need them the most.

e-RUPI Flow

Key features and principles of e-RUPI Voucher:

1. Digital Cash Society: India is committed to creating a digital cash society, and e-RUPI is an important step towards achieving this goal.

2. Ease of Living: The e-RUPI voucher aims to make the ease of living a reality for people by providing them with a convenient and secure digital payment solution.

3. Contactless and Cashless: e-RUPI is a contactless and cashless instrument, which means that it eliminates the need for physical currency or any physical contact during transactions.

4. Direct Benefit Transfer: e-RUPI is expected to make Direct Benefit Transfer (DBT) more effective by ensuring that welfare benefits reach the intended beneficiaries directly.

5. Digital Governance: The e-RUPI voucher gives a new dimension to digital governance in India by facilitating digital transactions and promoting transparency and efficiency.

6. Business Uses: The e-RUPI voucher can be used for various business purposes, including the sponsorship and distribution of goods and services to end beneficiaries. It can be used for scholarship programs, payment of utility bills, medical facilities, purchase of products, sponsorship of subsidies and services, and tax benefits.

7. Business Benefits: The e-RUPI voucher offers several business benefits, such as streamlining the distribution process, ensuring transparency in transactions, reducing leakages and fraud, and enabling targeted delivery of welfare benefits.

8. Participants in the e-RUPI Ecosystem: The e-RUPI ecosystem involves various participants, including the Issuer Bank/Payer PSP (Payment Service Provider), Acquirer Banks, Sponsor Banks, and third-party service providers.

9. Roles and Responsibilities: Each participant in the e-RUPI ecosystem has specific roles and responsibilities. For example, the Issuer Bank/Payer PSP is responsible for issuing e-RUPI vouchers, while the Acquirer Banks provide applications for scanning and redeeming e-RUPI vouchers.

10. Onboarding and De-boarding: The onboarding process for redemption centers follows the existing merchant onboarding process for e-RUPI. The de-boarding process is detailed in the UPI Product booklet on the NPCI website.

11. Acts: The e-RUPI voucher is governed by various acts, including the Banking Regulations Act 1949, Payment and Settlement Systems Act 2007, Section 43A of IT Act 2000, and Section 25 of the Payment and Settlement Systems Act 2007.

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e-RUPI is a digital payment solution that aims to create a digital cash society in India and ensure the effective distribution of welfare benefits. It offers several business benefits and involves various participants in its ecosystem. By leveraging technology, e-RUPI aims to make digital transactions more convenient, secure, and transparent.

Source: https://www.npci.org.in/PDF/npci/e-rupi/Product-Booklet.pdf

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