e-RUPI is a cashless and contactless financial will be redeem as a voucher service launched in India by Prime Minister Narendra Modi.
Why RBI ban Global Master Card in India?
Reserve Bank of India (RBI) announced the ban on Master Card issued by private & government bank in India on 22 July. The purpose of ban is only applicable to fresh master card to support more Rupay card transections in all over India.
Most of companies has offered the international Master debit Card from various banks cut down minimum fees on the usage of international master card. PM Modi launched Rupay card in the last year on 15th August, 2020.
These international debit card offering companies doesn’t have any local office in India as per RBI conditions and no redressal of Resident Grievance office located in India with contact. In some problem regarding debit or credit card, Govt want to contact them.
The e-RUPI is based on QR code or SMS based on e-voucher system will be delivered directly on the smartphone of the beneficiary. Government need to protect money from frauds, scammer in related to debit card frauds reports admits online raised every year.
What is e-RUPI? How it works ?
This e-Rupi service is just a old technology like we used in the recharge voucher coupon in the year of 2013-2016 from telecom companies like Bharti Airtel and BSNL etc.
e-RUPI is a cashless and contactless financial service which is developed by National Payments Corporation of India (NPCl) is based on QR core or SMS based e-voucher.
The e-RUPI system that is used to delivered directly on the smartphone to the beneficiary without any pending and delay in payment unlike third party wallets like Google Pay, PhonePe and Paytm used to delay or failed in transactions sometimes.
e-RUPI can only be redeemed against the services it is sent for. It will help the government in ensuring that the users are not wasting the e-RUPY on wastage things. A big step towards from the Indian government in the digital currency age.
How it benefits you?
e-RUPI e-voucher can redeem without any debit card and internet banking access. It is used in all government services transection in India and later it will come to all several services like recharge, payment transfers. It is very safe and secure UPI e-voucher in digital payment solutions offered in India.
Moreover, It will work in 2G , 4G and 5G smartphones across all retailer and e-commerce in India.