What is e-RUPI? What is the process of the issue? Which other countries use this technique?

e-RUPI is the first step towards digital currency by the government of India. e-RUPI is launched by our honourable prime minister Shri Narendra Modi on 2nd August 2021, Monday. 

e-RUPI is:

1. An electric voucher-based digital system of payment for a leak-proof delivery of benefits to the beneficiaries. 
2. This system of payment in India is introduced by the National Payments Corporation of India (NPCI), Department of Financial Service, Ministry of Health, and Family Welfare along with the National Health Authority. 
3. It is a contactless and cashless system that uses quick response (QR) code or a short message service (SMS) text to deliver its credits.
4. It is person-specific and purpose-specific and reaches the payment to the beneficiaries without any leakage.
5. It needs no NetBanking, no digital currency and there is no need for smartphones either.
6. The private sector can also leverage digital vouchers for their employees’ welfare, or for CSR indeed.
7. It will be useful in India for the TB eradication program, Ayushman Bharat, Pradhan Mantri Jan Arogya Yojana, drugs and nutritional support mother and child welfare scheme, etc.

The e-RUPI QR code or the SMS string will be processed in the following way: 

1. This is a payment transfer process through e-vouchers developed by the National Payments Corporation of India on its UPI platform. It has onboarded banks as the issuing authority.
2. The company/ firm that will be giving off a certain voucher to their employees must approach the bank and generate a QR of the given amount. 
3. Three copies of that QR will be generated, Host QR, Companies QR, and the Beneficiary's QR. The host QR is held by the NPCI and the other two will be given to the respective person.
4. He/ She needs to scan the QR at the respective place to redeem the benefit.

Many other countries are using this system for a long time these countries are:

• United States
• Colombia
• Chile
• Hong Kong
• Sweden