e-RUPI or e₹UPI (portmanteau of electronic Rupee and UPI)[1][2] developed in collaboration with Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority.


It was introduced from 2 August 2021.

e₹UPI is to ensure leak proof delivery of welfare services and bypassing middle man to decrease corruption.

Private sector can use the service for their own corporate social responsibility initiative (CSR).

e₹UPI is basically e-voucher based on QR code or SMS string that can be delivered through mobile phone.[3]

e₹UPI will act as a precursor for future Central bank digital currency (CBDC) that will be launched by RBI as it will help in highlighting the gaps within the national digital payment infrastructure.[4][5]

Financial Software and Systems (FSS) integrated e-RUPI on 1 December 2021 for financially underserved segments of the society.
[6]

Government of Karnataka partnered with NPCI to provide student scholarship through e₹UPI which can even be received on feature phones.[7]



e₹UPI is a secure and convenient way to make payments.

The service uses two-factor authentication to protect transactions, and the vouchers are stored in a secure environment.

e₹UPI is also a cost-effective payment method, with no charges for making payments within the same bank, and charges usually very low for making payments between different banks.


e₹UPI is expected to benefit a wide range of users, including:

• People without smartphones: e₹UPI can be used by people who do not have a smartphone or who do not have access to the internet.
  
  
  

• People in rural areas: e₹UPI can be used by people in rural areas who may not have access to traditional banking services.
  
  
  

• People who do not have a bank account: e₹UPI can be used by people who do not have a bank account.
  
  
  

e₹UPI is a new and innovative payment solution that has the potential to revolutionize the way people make payments in India.

The service is expected to help increase financial inclusion in India and make it easier for people to access financial services.

References: 

• [1] Kumar, Ravi Kant (6 August 2021). "E-RUPI latest news! SBI takes lead to boost digital payment solutions- check other banks in the race?". Zee Business. Retrieved 7 August 2021.

• [2] "India Launches Pre-Paid Voucher System". PYMNTS. 3 August 2021. Retrieved 7 August 2021.

• [3] Punj, Vivek (31 July 2021). "PM Modi to launch e-RUPI digital payment solution on August 2". Mint. Retrieved 31 July 2021.

• [4] Mukul, Pranav (7 August 2021). "e-RUPI: A voucher system ahead of digital currency". The Indian Express. Retrieved 7 August 2021.

• [5] Thomas, K. Sunil (14 August 2021). "A quarter century later, internet's greatest achievements in India". The Week. Retrieved 15 August 2021.

• [6] "FSS launches UPI e-voucher to advance financial inclusion". Business Standard India. 1 December 2021. Retrieved 2 December 2021.

• [7] "Karnataka govt partners with NPCI and SBI for enabling and implementing e-RUPI". Businessline. 28 December 2021. Retrieved 31 December 2021.