#e-rupi vouchers

[ashishaggarwalacubeventures]

Ashish Aggarwal, Managing Director of Acube Ventures Global, shared with Bizz Buzz, "In the future, RuPay cards will be designed for international use. Currently, they are only available for domestic transactions and in countries with which India has a mutually beneficial agreement." The RBI has introduced new measures to extend the issuance of e-RUPI vouchers, now allowing NBFCs to issue them. Currently, banks issue purpose-specific e-RUPI digital vouchers on behalf of governments and corporations.

[kashmirmonitor]

LG inaugurates ‘Jashn-e-Sehat’, two-day health conclave at Jammu

LG inaugurates ‘Jashn-e-Sehat’, two-day health conclave at Jammu

JAMMU, NOV 04: Lieutenant Governor, Manoj Sinha today inaugurated ‘Jashn-e-Sehat’, two-day health conclave to celebrate people’s right to health and deliberate challenges and future roadmap for better health services delivery, here at Convention Centre. The Lt Governor launched Qissa-e-Ayushman coffee table book, e-RUPI prepaid e-vouchers for providing diagnostic services, e-SAHAJ (Electronic…

[optimisticobjectpeace]

How India's Digital Rupee will work

e-RUPI

E-rupee is a cashless or to say digital payment system. This will be available to the beneficiaries in the form of SMS string or QR code. It will be like a gift voucher. No credit or debit card is required to redeem it. It will be redeemed even without mobile app or internet banking.

It can be used exactly like a cash transaction. Yes, it will not have a physical interface. You will get digital currency from Reserve Bank. You can send it to whomever you want to transfer. This currency will neither go to any wallet nor to any bank account. The process is like cash, but will be digital. There will be no intermediary bank or any other wallet in between.

How Digital Rupee Will Be Different From Cryptocurrency

Bitcoin was launched as a cryptocurrency only in the year 2009. With the passage of time, many cryptocurrencies like Ether, Dogecoin, WazirX came in the market. Investment in it also started in the last few years and grew rapidly.

But, cryptocurrency is absolutely private. Not under government monitoring. Anonymous people are investing. At times, claims are also made that people involved in terrorist activities or illegally transacting money are using it. Its value is also not stable and there is always a fear that when government agencies will take action on it.

The digital rupee will be monitored by the central banks of the countries rain pipe. If India's central bank is the Reserve Bank, then e-RUPI will remain under its supervision. There is no concern about security with this. Then there is no limit on the quantity. It is being claimed that the value of one rupee coin and digital rupee will be equal.

How to believe that digital payments have increased worldwide?

A report by World Pay and FIS states that about 40% of e-commerce payments in India were made through digital wallets.

Talking about Britain, the share of banknotes in payments will be about 91% in the coming 7 years.

In Sweden, 50% of retailers will stop taking cash payments in the next 4 years.

In South Korea, 96% of payments are going cashless.

[shinykittenland]

E-Rupi: Limit Raised From 10 Thousand To 1 Lakh

E-Rupi limit has been raised 10 thousand to 1 Lakh, Now Beneficiaries Will Be Able To Use More Than Once. Get all information in Hindi from Jantatv. Visit now.

[mrskk64]

E-Voucher Based Digital Payment Solution E-RUPI Launched

E-Voucher बेस्ड डिजिटल पेमेंट उपाय E-RUPI लॉन्च | अब सरकारी पैसा सीधा बैंक में नही बल्कि E-Voucher के रूप में मिलेगा

[techsevi]

eRUPI क्या है? यह कैसे काम करता है? इसे कैसे Use करें?

eRUPI क्या है? यह कैसे काम करता है? इसे कैसे Use करें?

हाल ही में भारत सरकार ने एक नया डिजिटल पेमेंट सिस्टम लॉन्च किया है, जिसे e-RUPI या eRupee का नाम दिया गया है। लेकिन कुछ लोग इसे क्रिप्टोकरेंसी समझ रहे हैं। क्योंकि RBI लम्बे समय से अपना खुद का Crypto Coin लॉन्च करने की बात कह रही थी। इसीलिए लोगों ने सोचा कि यह वही Coin है, जो RBI लॉन्च करने वाली थी। लेकिन असल में यह कोई क्रिप्टोकरेंसी नहीं है। तो फिर eRUPI Kya Hai? और यह क्रिप्टोकरेंसी से किस तरह…

[alwaysawesomesblog]

e-RUPI: India to get new digital payment mode with launch of e-RUPI - What’s new and how does it work |

e-RUPI: India to get new digital payment mode with launch of e-RUPI – What’s new and how does it work |

The government is introducing a new digital payment mode under UPI known as e-RUPI. The purpose of this new payment mechanism is to ensure that the government can extend monetary support directly to citizens in a “leak-proof manner” in the form of prepaid e-voucher powered by UPI. It can be considered somewhat like a ‘Sodexo coupon’ that the government will pass on directly to citizens, so that…

[rogueentity44]

Keeping in mind Digital Payments in the country, Prime Minister Narendra Modi will launch a voucher based digital payment platform on August 2, called e-Rupi.  It’ll be a historic moment for the country as this will be our first step towards Digital Currency. As per claims, e-Rupi is going to be a person-specific and purpose-specific payments system.

[freejobalerts]

Paytm Payments Bank enables e-RUPI prepaid vouchers

Paytm Payments Bank enables e-RUPI prepaid vouchers

https://tech.sirbpti.com/tech/news/paytm-payments-bank-enables-e-rupi-prepaid-vouchers-71645767269117.html https://tech.sirbpti.com/tech/news/tamil-actress-gayathrie-instagram-account-hacked-know-how-to-stay-safe-71645764938175.html https://tech.sirbpti.com/tech/news/nothing-ear-1-oppo-enco-x-to-samsung-galaxy-buds-pro-5-best-tws-anc-earbuds-to-buy-…

[reportwire]

Paytm Payments Bank enables merchants to accept e-RUPI prepaid vouchers

Paytm Payments Bank enables merchants to accept e-RUPI prepaid vouchers

Paytm Payments Bank Limited (PPBL) has become an official acquiring partner for e-RUPI vouchers, further making it accessible at offline stores across the country.  e-RUPI, which is a government initiative, is a cashless prepaid voucher that beneficiaries can present via SMS or QR Code. Paytm’s merchant partners can then scan, enter the amount to be paid and receive the payment directly in their…

[pravasitax]

What is E-RUPI?

How does it help? What are its uses?How does it work?

Prime Minister Narendra Modi launched an electronic voucher based digital payment system “e-RUPI” on Monday (02 August 2021). The platform has been developed by the National Payments Corporation of India in collaboration with other government departments.

 Is it digital currency? 

No. However, it is a first step by the Government towards the introduction of a new digital currency for India. The government is already working on developing a central bank digital currency and the launch of e-RUPI could potentially highlight the gaps in digital payments infrastructure that will be necessary for the success of the future digital currency or e-currency. 

Is it a digital payment platform ? 

No. The same is not a digital payment platform like google pay and PayTM.  

So, what is it actually? 

E-RUPI is a cashless and contactless digital payment solution. Through E-Rupi Indian government has tried to bring an electronic e-voucher system in India. It will act as a prepaid e-voucher which you can pay without any hassle. You don’t need a credit card, debit card, or any other service to pay.

 It is, in essence, like a prepaid voucher except that the voucher is entirely digital and the payments will be authorised by institutions like the government or banks.

 For instance, suppose you get an e-RUPI voucher for a getting a COVID vaccination. The said voucher can only be redeemed to obtain the said vaccine. 

 India faces a massive problem with respect to distribution of subsidies to real beneficiaries. For instance, there are middlemen in the existing system claiming benefits ineligible to them. 

The Prime Minister said that the e -RUPI voucher is going to play a huge role in making DBT (Direct Benefit Transfer) more effective in digital transactions in the country and will give a new dimension to digital governance. This will help everyone in targeted, transparent and leakage-free delivery.

 It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programs, drugs and diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertilizer subsidies, etc.

 For example, in India the only way that a parent (in a remote village) who is struggling to finance their child’s education is to send them to a government school (which would be underfunded, have no proper infrastructure and suffer from issues such as teacher absenteeism, irresponsible administrators). However, under the new e-RUPI Model, the Government would provide a voucher to the parent for the child’s education which could be redeemed at a school of their choice. Therefore, the school would need to collect these vouchers from the students and redeem them in order to see any money in their accounts. This way government funds will go to institutions that perform and the ones that don’t, will suffer the consequences. 

 e-RUPI is a cashless and contactless instrument for digital payments. It acts as an e-voucher based on a QR code or SMS string, which is delivered to the mobile phones of the beneficiaries.” 

Meaning, the government could technically send an SMS to an Aadhar linked number and transfer the subsidy this way. All you have to do then is redeem this e-voucher and use it to fund the child’s education. 

This way the system ensures leak-proof delivery of government's welfare services to the intended beneficiaries. Further, e-RUPI will connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. 

 The PMO also added that even the private sector can “leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes". NHA opined that the advantage of using e-RUPI is that voucher redemption can be tracked by the issuer. 

 The system has been built by NPCI on its UPI platform, and has on boarded banks that will be the issuing entities. Any corporate or government agency will have to approach the partner banks, which are both private and public-sector lenders, with the details of specific persons and the purpose for which payments have to be made. The beneficiaries will be identified using their mobile number and a voucher allocated by a bank to the service provider in the name of a given person would only be delivered to that person. 

This way the Government through e- RUPI is able create a person-specific and purpose-specific payments system.   

source :https://pravasitax.com/information-hub/tax/investments/other-investments/what-is-e-rupi

[ashishaggarwalacubeventures]

RuPay poised for worldwide expansion in the near future

Experts anticipate that RBI's recent initiatives will broaden the accessibility of e-RUPI vouchers and RuPay currency cards, while also extending the range of concession settlement options for NBFCs and co-operative banks. The recent decision by the Reserve Bank of India (RBI) to authorize Indian banks to issue RuPay prepaid forex cards for international use is a noteworthy development in enhancing seamless cross-border transactions, according to experts. Additionally, the RBI has unveiled plans to increase the accessibility of e-RUPI vouchers and RuPay currency cards, along with broadening the scope of concession settlement options for NBFCs and co-operative banks. To expand the potential uses of e-RUPI, the central bank has granted permission to both banking institutions and non-bank financial institutions (NBFCs) to issue these vouchers for both corporate and retail purposes. Ashish Aggarwal, Managing Director of Acube Ventures Global, shared with Bizz Buzz, "In the future, RuPay cards will be designed for international use. Currently, they are only available for domestic transactions and in countries with which India has a mutually beneficial agreement." The RBI has introduced new measures to extend the issuance of e-RUPI vouchers, now allowing NBFCs to issue them. Currently, banks issue purpose-specific e-RUPI digital vouchers on behalf of governments and corporations. This decision by the RBI aims to widen the accessibility and coverage of e-RUPI vouchers, further advancing the adoption of digital payments in the country, he added Amit Gupta, MD of SAG Infotech, emphasized, "These steps will empower non-bank prepaid payment instrument (PPI) issuers to provide e-RUPI vouchers, streamlining both issuance and redemption procedures, and enabling individuals to issue vouchers." Launched in August 2021, e-RUPI leverages the Unified Payments Interface (UPI) system operated by the National Payments Corporation of India (NPCI). Furthermore, the RBI has granted authorization for banks in India to issue RuPay Prepaid Forex cards, facilitating their use at international ATMs, Point of Sale (PoS) machines, and online merchants. Gupta highlighted, "This step broadens the array of payment choices for Indians journeying overseas and amplifies the recognition and utilization of RuPay cards worldwide." Akash Sinha, Co-Founder & CEO of Cashfree Payments, remarked, "This advancement elevates convenience, cost-effectiveness, and security, enabling individuals and businesses to seamlessly engage in cross-border transactions. The widespread acceptance of RuPay cards on the international stage aligns with the Government of India's vision of a digital economy, fostering digital payments, financial inclusivity, and overall economic progress. India has recently placed significant emphasis on cross-border payments, recognizing their pivotal importance. The acceptance of RuPay cards by Bhutan, Singapore, Nepal, and the UAE has reinforced the drive for more cross-border payment partnerships and extended the global reach of UPI and RuPay. This development has also instilled trust for future collaborations, facilitating seamless cross-border transactions and advancing financial inclusivity on a global scale. Moreover, the issuance of e-Rupee vouchers on behalf of individuals broadens the market potential and heightens customer engagement. Additionally, the widespread adoption of e-Rupee vouchers propels digital transactions, enhancing the efficiency and swiftness of payments, ultimately bolstering overall operational efficiency and financial management for businesses in India, as perceived by experts.

[guideclear]

(All answer ) Name the new cashless and contactless e-Voucher based payment system, launched by the PM recently.

(All answer ) Name the new cashless and contactless e-Voucher based payment system, launched by the PM recently.

Name the new cashless and contactless e-Voucher based payment system, launched by the PM recently. Name the new cashless and contactless e-Voucher based payment system, launched by the PM recently. Answer – e-RUPI Answer – Answer – Answer – Answer – Daily QuizTimeAnswer all 5 questionsEnter the lucky draw to win the prize by answering all 5 questions correctly.Chance to win (All answer )…

[indrosphere]

e-RUPI | A voucher System Ahead of Digital Currency in India

e-RUPI | A voucher System Ahead of Digital Currency in India

Taking the first step towards having a digital currency in India, Prime Minister Narendra Modi launched an electronic voucher-based digital payment system “e-RUPI” — a  cashless and contactless instrument for digital payment on August 2, 2021. It’s going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital transactions in the country and will give a new dimension…