National Payments Corporation of India (NPCI) in association with the Department of Financial Services (DFS), National Health Authority (NHA), Ministry of Health and Family Welfare (MoHFW), and partner banks, has launched an innovative digital solution – ‘e-RUPI’.

What is e-RUPI?

It is a seamless one-time payment mechanism where users will be able to redeem the voucher without a card, digital payments app, or internet banking access, at the merchants accepting e-RUPI. e-RUPI will be shared with the beneficiaries via SMS or QR code.

It is a cashless and contactless payment mechanism which will be person and purpose-specific and can be issued by the government or corporates to beneficiaries for their treatment, education, or any other work, and voucher redemption can be tracked by the issuer also.

e-RUPI is benefical for corporates, hospitals and consumers.

Reasons why it is beneficial for corporates?

1. Corporates can enable the well-being of their employees

2. End to end digital transaction and doesn’t require any physical issuance hence leading to cost reduction

3. Voucher redemption can be tracked by the issuer

4. Quick, safe & contactless voucher distribution

Reasons why it is beneficial for hospitals?

1. Easy & Secure – Voucher is authorized via a verification code

2. Hassle free & Contactless payment collection – Handling of cash or cards is not required

3. Quick redemption process – The voucher can be redeemed in a few steps and lesser decline due to the pre-blocked amount

Reasons why it is beneficial for Consumers?

1. Contactless – Beneficiary should not carry a print out of the voucher

2. Easy redemption – 2 step redemption process

3. Safe and Secure – Beneficiary doesn’t need to share personal details while redemption hence privacy is maintained

4. No digital or bank presence required – Consumer redeeming the voucher need not have a digital payment app or a bank account

Below is the list of Banks that are live with e-RUPI ->

Sr. No. Bank Name Issuer Acquirer Acquiring App / Entity

1 Axis Bank ✔ ✔ Bharat Pe

2 Bank of Baroda ✔ ✔ BHIM Baroda Merchant Pay

3 Canara Bank ✔ NA

4 HDFC Bank ✔ ✔ HDFC Business App

5 ICICI Bank ✔ ✔ Bharat Pe & PineLabs

6 Indusind Bank ✔ NA

7 Indian Bank ✔ NA

8 Kotak Bank ✔ NA

9 Punjab National Bank ✔ ✔ PNB Merchant Pay

10 State Bank of India ✔ ✔ YONO SBI Merchant

11 Union Bank of India ✔ NA


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Disclaimer: The content of this document is for general information purpose only. you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All Content in the article is information of a general nature and does not address the circumstances of any particular individual or entity.

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September 2021