In 2015, the Prime Minister introduced the ‘Digital India’ Program and the Global Covid-19 Pandemic worked like fuel on the fire for this program. It led us to a situation where if you are not digital then you may face some hardships. One and only, means of surviving today is to go digital. Financial matters always need online access. It is not always possible to stand in a huge queue for monetary service in the banks. It is very tiresome. So, this year government of India brought us the facility of the online monetary solution, E-RUPI.
e-RUPI is a type of digital payment. It acts as an e-voucher based on a QR code or SMS cord, which is delivered to the mobile phones of the beneficiaries. It also ensures that the payment to the service provider is made only after the transaction is completed. Being prepaid in nature, it assures timely payment to the service provider without the involvement of any intermediary. The E-RUPI platform has been developed by the National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, and National Health Authority.