The new turn in the digital payments ‘E-RUPI’ launched by Indian Government on 2nd August 2021 which jointly developed by many Government agencies, E-RUPI is Contactless digital Platform to enable payments at any place in country, this Facility will provide users to get prepaid vouchers of the desired amount to complete the payment with the merchants accepting E-RUPI

How It Works ?

This new facility works a lot different then UPI where we can just scan the QR code or type the UPI ID of the recipient but in the E-UPI the users have to create the Prepaid Voucher for the amount of which user want to pay and redeem such voucher without a card, any other app or online banking , to the Merchants who wants to accept payments in the form of E-RUPI shall get themselves registered with respective platform/App of their bank

Indian hand using e-RUPI

It is a Lot simpler than Digital payments, just think of Digital Bearer note of a currency where one user creates it by debiting his bank and he can transfer such voucher to anyone of his family, friends or finally to the merchant , the entire process of this facility is quite faster and reliable as the amount is already deducted/Stored in Voucher but at the same time the said voucher also requires high digital security.

In this Facility the users will be able to Track the Vouchers issued by him and their status of Redemption being issued and authorized by unique verification code , end to end digital transaction fully digital which does not require any physical contact between any person or medium of exchange i.e Cash or Card ,

Beneficiary of the user does not need to share any personal details while redemption to maintain the privacy of its users

The Voucher can be easily redeemed by the recipient due to pre-deduction of such amount with the payee and for the purpose of redemption no Bank or digital presence is required by the recipient intend to redeem such voucher .

Details of the banks Live with E-RUPI are:

S.No Bank Name Issuer acquirer Acquiring App / Entity
1 Axis Bank Yes Yes Bharat Pe
2 Bank of Baroda Yes Yes BHIM Baroda Merchant Pay
3 Canara Bank Yes NA
4 HDFC Bank Yes Yes HDFC Business App
5 ICICI Bank Yes Yes Bharat Pe & PineLabs
6 Indusind Bank Yes NA
7 Indian Bank Yes NA
8 Kotak Bank Yes NA
9 Punjab National Bank Yes Yes PNB Merchant Pay
10 State Bank of India Yes Yes YONO SBI Merchant
11 Union Bank of India Yes NA

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Location: Ghaziabad, Uttar Pradesh, India
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September 2021