Prime Minister Narendra Modi on Monday launched a new mode of digital payment called e-RUPI. This payment system is developed by the National Payment Corporation of India (NPCI) and the launch took place via video conferencing.
e-RUPI a cashless and contactless digital payment system which has been developed in collaboration with the Union Ministry of Health and Family Welfare and Department of Finance. While launching this new system, PM Modi said that this is a “person and purpose specific” digital solution.
“If any person or any organisation wants to donate money, e-RUPI will ensure that the amount of money donated is being used for that purpose itself. It ensures that the objective with which money has been donated is being used to fulfil that objective,” PM Modi said. “e-Rupi will help in boosting digital payments and Direct Benefit Transfer (DBT) in the country,” the Prime Minister added. He expressed his happiness that the system was launched weeks before India celebrates its 75th anniversary of Independence. e-RUPI is expected to help not only in contactless payment system, but also in Direct Benefit Transfer (DBT).
There is going to be a QR code or a SMS-string based e-voucher which will be delivered directly to the phone of the beneficiary. According to a statement from the government, the beneficiary will be able to redeem the voucher without a card, digital payments app or internet banking access at the service provider. The mechanism connects services with beneficiaries and service providers in a digital manner without any physical interaction.
Addressing the event through video conference, the PM said cashless and contactless instrument for digital payment will help in targeted, transparent and leakage-free delivery. The Prime Minister said that the world is recognising India’s strength in digital infrastructure and digital transactions due to the work done in the last six-seven years. “Especially in Fintech, a huge base has been created. This is not there is big countries also,” he said. He said India is proving to the world that it is second to none in adopting technology and adapting to it. “Whether it is innovations, use of technology in service delivery use of technology in service delivery, India has the ability to give global leadership along with other major countries of the world,” he said.
The Prime Minister said some people used to say earlier that technology is for the rich and India is a poor country and does not need it and when his government talked of making technology a mission, it was questioned by the political leaders and certain types of experts. “But today the country has proved this thinking wrong and fallacious. Today the country thinks differently. Today technology is seen as a tool for the progress of the poor,” he said.