Prime Minister Narendra Modi unveiled the e-RUPI electronic coupon-based digital payment solution at a video conference for Indian residents on Monday. According to the Prime Minister, e-RUPI is a one-time contactless tool that allows users to make online payments. Users using this digital mechanism can redeem a coupon without a card, online transaction applications, or online banking.

Prime Minister Modi said this e-RUPI coupon is a blessing to those who do not have access to the technology. If an organization is willing to help someone with training, care, or anything else. Each beneficiary can use this e-RUPI coupon instead of cash, and it also ensures that the money has only been used for the purpose for which it was sent.

This development tool has been developed in collaboration with the Financial Services Department, the Ministry of Health and Family Affairs, the National Health Authority and National Payments Corporation From India on its UPI platform.

During the conference, the prime minister also said the government has already saved a huge amount of SEK 1.78 million by transferring LPG gas subsidies, dose amounts and money to other social security schemes directly to the bank accounts of the corresponding beneficiaries. this technology.

What are the benefits of e-RUPI Digital Payment Solution?

e-RUPI Digital Payment Technology benefits the people of India in many ways. Let’s go diving to know more about them.

  • By using e-Rupi, the sponsors of the services are connected directly to the beneficiaries, which completely eliminates the need for physical disruption.
  • This online payment system is offered in the form of digital coupons, so users only have to tap the payment. Requirement for cards, online banking and payment gateway provider applications discarded.
  • It’s safe, beneficiaries don’t have to share their powers during the event.
  • The service provider will not receive the corresponding amount until after a successful transaction.
  • Private companies and other welfare organizations can also enjoy the benefits of e-RUPI. They can provide special vouchers for employee welfare schemes.

The scope of E-RUPI in the future

With the development of artificial intelligence cryptocurrencies such as Bitcoin has exploded tremendously in the Indian market. However, the rise in the currency-to-GDP ratio is also the reason why the Reserve Bank of India (RBI) has begun to consider the importance of digital currencies. Still, there are many steps that need to be taken before deciding on the success of digital currencies.

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