PM Modi launches e-RUPI contactless payment voucher; check what it is, how to get benefits and more
In what can be termed as the first attempt at creating an official e-voucher for digital payments in the country, Prime Minister Narendra Modi has launched the e-RUPI system in the country. The one-time payment mechanism will allow users to redeem a voucher without using a card, a digital payments app and it can be done without any access to an internet banking service.
How e-RUPI works? Instead of using existing internet banking and payment mechanisms that require an app or online service to complete a transaction, the new e-RUPI digital payment system uses a QR (Quick Response) code or an SMS string-based e-voucher.