e-RUPI: A Purpose Specific Digital Voucher

Abstract

e-RUPI is an advanced online resolution that has been launched by the National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, National Health Authority, and partner banks. It is just like a prepaid voucher that can be used by users to redeem an amount without a card, online payment application, or without accessing internet banking services. The present learning has explored the existing literature and aimed to discuss the merits and demerits of this emerging prepaid voucher, in the period of the COVID-19 pandemic. It has been found that the e-RUPI initiative of the Modi government will be fruitful for the beneficiaries as they will receive a direct benefit. It will be reliable and secure for both companies and customers. It suffers from ICT-related risks such as cyber fraud, hacking, lack of efficiency, and attitude of people towards adoption of this new resolution.