What is e-RUPI

What is e-RUPI – New Indian Payment Method

What is e-RUPI: Recently Prime Minister of India, Shri Narendra Modi launched the latest payment e-voucher method named e-RUPI. 

What is e-RUPI
What is e-RUPI
  • This is a prepaid e-voucher payment method. 
  • It was recently launched on Monday, August 02, 2021. 
  • The main objective of launching e-RUPI is to create a payment system, which is advanced, traceable, contactless, cashless and can be accessed anywhere.

What is e-RUPI?

e-RUPI is a contactless, cashless e-voucher payment method. e-RUPI is person-specific as well as purpose-specific.

This payment method was launched by the National Payments Corporation of India with the help of DFS (Department of Financial Services), MoHFW (Ministry of Health and Family Welfare), NHA (National Health Authority), and other partner banks.

The main aim of launching e-RUPI is to provide an e-voucher payment method where you don’t need any card to redeem any kind of voucher or internet banking access or any digital payments app.

Banks & Apps Associated With e-RUPI

  • There are 8 banks associated with e-RUPI, which means you can easily issue e-RUPI vouchers by visiting these banks.
  • These eight banks include Axis Bank, ICICI Bank, Canara Bank, Bank of Baroda (BOB), Punjab National Bank (PNB), HDFC Bank, Indusind Bank, and State Bank of India (SBI).
  • Bank Apps include BHIM Baroda Merchant, Bharat Pe & PineLabs, HDFC Business App, YONO SBI Merchant, Bharat Pe, and PNB Merchant Pay.

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Advantages of using e-RUPI

e-RUPI has many benefits, we discuss each of them one by one –

  • e-RUPI is a simple and easy-to-use E-voucher payment method.
  • It is highly protected safe & secure in comparison to the other payment methods. 
  • All the details of the user like payment status, voucher number remain private and confidential.
  • This e-voucher payment method is much faster as you can do all transactions easily.
  • e-RUPI is reliable and you can deposit your amount in this voucher.
  • This e-voucher payment method can be easily tracked, which means the issuer of the e-RUPI voucher can easily see all the details like where you spend all the voucher amount, time, and date.

Benefits

  • e-RUPI is very beneficial for corporate companies, consumers, restaurants, and hospitals.
  • Private companies can also issue this e-voucher payment method as a gift voucher for their employees.

FAQ

What is e-RUPI?

e-RUPI is the prepaid e-voucher payment method. 

When was e-RUPI launched?

e-RUPI was launched on August 02, 2021.

Who launched e-RUPI?

e-RUPI was launched by the Prime minister of India, Shri Narendra Modi.

What are some advantages or benefits of e-RUPI?

e-RUPI is a safe and secure way of transaction, which means the details of the user always remain confidential.

What is the exact use of voucher e-RUPI?

e-RUPI is an e-voucher based payment method for doing payments, distributing gift vouchers. For example, in hospitals, restaurants, e-RUPI can be used to pay bills, etc. Or can be used by companies to issue a gift voucher for the employees.

E-RUPI Full form is?

E-RUPI Full form is – Electronic (Digital) Rupee – (E-RUPI).

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