e-RUPI Future Payment Systems | Govt of India
‘e-RUPI’ is a New futuristic digital payment system Initiative which makes payment easy without the Internet, Debit or Credit Card, or No Need Bank Account. Alternatively ‘e-RUPI’ is a user with voucher based payment only to merchants that need to be accepted. So this article brief about new govt of india initiative ‘e-RUPI’
Contents
What is ‘e-RUPI’ Payment System?
National Payments Corporation of India (NPCI) in association Govt Of India Various Ministry and partner banks, has launched 2nd August 2021 4:30PM an innovative digital solution – ‘e-RUPI’.
- The users of this seamless one-time payment mechanism
- Redeem the voucher without a card, digital payments app or internet banking access
- At the merchants accepting e-RUPI.
- e-RUPI would be shared with the beneficiaries comes under govt of india
‘e-RUPI’ Future Payment System!
This contactless e-RUPI is easy, safe and secure as it keeps the details of the beneficiaries completely confidential.
- The transaction is faster & reliable
- Cashless & Contactless digital payment
- The amount already stored in voucher
- Users not need to carry any extra with voucher
- More Secure More Faster than any other payment system
- Widely used for upcoming govt schemes and payments assured by government
- Ensure right person with right beneficiary credit without bank payment from govt schemes and other subsidy payments
e-RUPI Benefits for Corporates!
Not only for end users also corporate can use this new payment system
- Corporates can enable well-being of their employees
- End to end digital transaction and doesn’t require any physical issuance hence leading to cost reduction
- Voucher redemption can be tracked by the issuer
- Quick, safe & contactless voucher distribution
Process of ‘e-RUPI’ Payment System !
Simple and fast payment system which prioritizes ‘e-RUPI’ as a good initiative for the right time in India to trouble free payment.
- Contactless – Beneficiary should not carry a print out of the voucher
- Easy redemption – 2 step redemption process
- Safe and Secure – Beneficiary doesn’t need to share personal details while redemption hence privacy is maintained
- No digital or bank presence required – Consumer redeeming the voucher need not have a digital payment app or a bank account
Conclusion
‘e-RUPI’, Absolutely corruption free, trouble free payment initiative makes the process faster. Above all benefits and systematic ‘e-RUPI’ is definitely road to end user towards future payment system of india
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