Prime Minister Narendra Modi introduced e-RUPI, a cashless and contactless digital payment system, on Monday.

The one-time payment system attempts to eliminate leaks in government assistance programmes and ensure that funds reach the intended recipients.

The platform would be a person-specific and purpose-specific payments system created by the National Payments Corporation of India (NPCI), the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority. 
 
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How will e-RUPI function?

e-RUPI is a cashless and contactless digital payment system.

It is a QR code or SMS string-based e-Voucher that is sent to the beneficiaries' mobile phones.

Users of this seamless one-time payment mechanism will be able to redeem the voucher at the service provider without the use of a card, digital payments app, or online banking access.&nbsp;

It has been developed by National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health &amp; Family Welfare and National Health Authority.

e-RUPI establishes a digital link between service sponsors and beneficiaries and service providers, eliminating the need for a physical interface.

It also guarantees that the service provider is only paid once the transaction has been completed.

Because it is pre-paid, it ensures prompt payment to the service provider without the need for a middleman.

It is intended to be a game-changing effort aimed at assuring the delivery of leak-proof social services.

These digital coupons can be used by the private sector as part of employee welfare and corporate social responsibility programmes.

(With inputs from agencies)

Prime Minister Narendra Modi introduced e-RUPI, a cashless and contactless digital payment system, on Monday. The one-time payment system attempts to eliminate leaks in government assistance programmes and ensure that funds reach the intended recipients.

Prime Minister Narendra Modi introduced e-RUPI, a cashless and contactless digital payment system, on Monday. The one-time payment system attempts to eliminate leaks in government assistance programmes and ensure that funds reach the intended recipients. The platform would be a person-specific and purpose-specific payments system created by the National Payments Corporation of India (NPCI), the Department of Financial Services, the Ministry of Health and Family Welfare, and the National Health Authority. How will e-RUPI function? e-RUPI is a cashless and contactless digital payment system. It is a QR code or SMS string-based e-Voucher that is sent to the beneficiaries' mobile phones. Users of this seamless one-time payment mechanism will be able to redeem the voucher at the service provider without the use of a card, digital payments app, or online banking access. It has been developed by National Payments Corporation of India on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and National Health Authority. e-RUPI establishes a digital link between service sponsors and beneficiaries and service providers, eliminating the need for a physical interface. It also guarantees that the service provider is only paid once the transaction has been completed. Because it is pre-paid, it ensures prompt payment to the service provider without the need for a middleman. It is intended to be a game-changing effort aimed at assuring the delivery of leak-proof social services. These digital coupons can be used by the private sector as part of employee welfare and corporate social responsibility programmes. (With inputs from agencies)

What is e-RUPI and how does it function?

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).

The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well.

BHIM is the second Indian payment gateway to be launched in the country after RuPay.

The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi.

Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia.

India and Bhutan share very close ties, defined as a "special relationship".

Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI). The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well. BHIM is the second Indian payment gateway to be launched in the country after RuPay. The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi. Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia. India and Bhutan share very close ties, defined as a "special relationship". Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.

Indian mobile payment App BHIM to be launched in Bhutan today 

Digital payment app Paytm has introduced BHIM United Payments Interface (UPI), the government&#39;s mobile payment system for payments on its mobile app.&nbsp;

UPI is a mobile payment mechanism which enables one to transfer money between two bank accounts using a UPI ID.

The process to register on the BHIM UPI requires you to create your own Paytm BHIM UPI ID on the app, then link your savings bank accounts to this Paytm BHIM UPI ID and&nbsp;begin transactions.&nbsp;

Multiple accounts can be linked to BHIM UPI ID and users can also accept money in any account they wish.&nbsp;

UPI-based applications are becoming popular as a medium of money transaction&nbsp;as it&nbsp;removes the time-consuming process of adding beneficiaries to begin transactions and also removes the necessity of sending your Indian Financial System Code (IFSC) code and bank account number of anyone who wants to send you the money, which makes&nbsp;it a much faster method to transfer money than national electronic fund transfer (NEFT) or other traditional methods.&nbsp;

Paytm&#39;s Android app currently packs a beta version of the feature and iOS will soon receive the feature.

Digital payment app Paytm has introduced BHIM UPI the government's mobile payment system for payments on its mobile app

Digital payment app Paytm has introduced BHIM United Payments Interface (UPI), the government's mobile payment system for payments on its mobile app. UPI is a mobile payment mechanism which enables one to transfer money between two bank accounts using a UPI ID. The process to register on the BHIM UPI requires you to create your own Paytm BHIM UPI ID on the app, then link your savings bank accounts to this Paytm BHIM UPI ID and begin transactions. Multiple accounts can be linked to BHIM UPI ID and users can also accept money in any account they wish. UPI-based applications are becoming popular as a medium of money transaction as it removes the time-consuming process of adding beneficiaries to begin transactions and also removes the necessity of sending your Indian Financial System Code (IFSC) code and bank account number of anyone who wants to send you the money, which makes it a much faster method to transfer money than national electronic fund transfer (NEFT) or other traditional methods. Paytm's Android app currently packs a beta version of the feature and iOS will soon receive the feature.

Paytm integrates BHIM on its platform

India&nbsp;prime minister Narendra Modi&#39;s administration unveiled a raft of measures on the occasion of 126th birth anniversary of Bhim Rao Ambedkar -- the architect of India&#39;s constitution.

The highlight of the prime minister&#39;s address was the launch of an app that will help millions of Indians who have no mobile phone, internet connection, credit and debit card to make digital payments.

Addressing the nation from Nagpur city in west India on Friday, PM Modi rolled out the BHIM-Aadhar app (Bharat Interface for Money) to allow millions of phone-less Indians to start using digital wallets.

&quot;Any citizen without access to&nbsp;smartphones,&nbsp;the Internet, debit or credit cards will be able to transact digitally through the BHIM-Aadhaar platform, thus&nbsp;realising&nbsp;Bhim Rao Ambedkar&#39;s vision of social and financial empowerment for all,&quot; a statement released by NITI-Aayog said. NITI-Aayog is a government-backed think tank.

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.<a href="https://twitter.com/narendramodi">@narendramodi</a> launches <a href="https://twitter.com/hashtag/BHIMAadhaar?src=hash">#BHIMAadhaar</a> to enable every single Indian citizen to pay just with their THUMB! No internet, wallet, mobile needed. <a href="https://t.co/Pxo6eanHFU">pic.twitter.com/Pxo6eanHFU</a>
&mdash; NITI Aayog (@NITIAayog) <a href="https://twitter.com/NITIAayog/status/852794639908085760">April 14, 2017</a></blockquote>
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Twenty-seven major banks were already on board with around three lakh merchants so that they can start accepting payments using BHIM-Aadhaar, the statement said.&nbsp;

Under the new system, merchants will have to download the app and sync them to a biometric scan machine. As for the users, they just need to have the 12-digit Aadhaar code. That will enable traders to transfer the amount from the customer&#39;s bank account to theirs.&nbsp;

The Aadhaar card is an identity card based on their biometric and demographic data.

The other initiatives announced by the government was the cash back system and the referral system.

&quot;If you add a person to BHIM app and he makes three transactions, Rs 10 will be added to your account. The scheme will continue till October 14,&quot; Modi said.

As for the cashback scheme, traders will get a cashback on every transaction made by them.

The other salient point was Modi&#39;s promise to build homes for all Indians by 2022.

As per official data, there are 17.73 million homeless people in India. The housing crisis gets magnified when government data suggest that up to&nbsp;70 million Indians live in urban slums.

&ldquo;We have a dream for 2022. The poorest of poor should have a house of his own. And that house must be equipped with electricity, water and other facilities. There should be hospitals and schools in the neighbourhood,&rdquo; Modi said.

The raft of social policies was announced to coincide with Ambedkar&#39;s birth anniversary.

Ambedkar was one of the towering figures in Indian politics to fight for the then-termed untouchables and backward&nbsp;castes in India. He was also the country&#39;s first law minister and is credited to have drafted the Indian constitution.

(WION with inputs from agencies)

&nbsp;

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India Prime Minister Narendra Modi announced a clutch of pro-poor schemes on the birth anniversary of leading social crusader BR Ambedkar

India prime minister Narendra Modi's administration unveiled a raft of measures on the occasion of 126th birth anniversary of Bhim Rao Ambedkar -- the architect of India's constitution. The highlight of the prime minister's address was the launch of an app that will help millions of Indians who have no mobile phone, internet connection, credit and debit card to make digital payments. Addressing the nation from Nagpur city in west India on Friday, PM Modi rolled out the BHIM-Aadhar app (Bharat Interface for Money) to allow millions of phone-less Indians to start using digital wallets. "Any citizen without access to smartphones, the Internet, debit or credit cards will be able to transact digitally through the BHIM-Aadhaar platform, thus realising Bhim Rao Ambedkar's vision of social and financial empowerment for all," a statement released by NITI-Aayog said. NITI-Aayog is a government-backed think tank. .@narendramodi launches #BHIMAadhaar to enable every single Indian citizen to pay just with their THUMB! No internet, wallet, mobile needed. pic.twitter.com/Pxo6eanHFU — NITI Aayog (@NITIAayog) April 14, 2017 × Twenty-seven major banks were already on board with around three lakh merchants so that they can start accepting payments using BHIM-Aadhaar, the statement said. Under the new system, merchants will have to download the app and sync them to a biometric scan machine. As for the users, they just need to have the 12-digit Aadhaar code. That will enable traders to transfer the amount from the customer's bank account to theirs. The Aadhaar card is an identity card based on their biometric and demographic data. The other initiatives announced by the government was the cash back system and the referral system. "If you add a person to BHIM app and he makes three transactions, Rs 10 will be added to your account. The scheme will continue till October 14," Modi said. As for the cashback scheme, traders will get a cashback on every transaction made by them. The other salient point was Modi's promise to build homes for all Indians by 2022. As per official data, there are 17.73 million homeless people in India. The housing crisis gets magnified when government data suggest that up to 70 million Indians live in urban slums. “We have a dream for 2022. The poorest of poor should have a house of his own. And that house must be equipped with electricity, water and other facilities. There should be hospitals and schools in the neighbourhood,” Modi said. The raft of social policies was announced to coincide with Ambedkar's birth anniversary. Ambedkar was one of the towering figures in Indian politics to fight for the then-termed untouchables and backward castes in India. He was also the country's first law minister and is credited to have drafted the Indian constitution. (WION with inputs from agencies)

India launches digital payment app for poor, vows homes for all by 2022

To encourage digital transactions and make them more convenient, Indian Prime Minister Narendra Modi&nbsp;launched an Aadhar-based mobile payment application.

Under this, payments can be made by just a thumb impression once the bank account is linked with Aadhar gateway.

The new app, named BHIM (Bharat Interface for Money) after the main architect of Indian constitution&nbsp;Bhim Rao Ambedkar, will help seam the illiterate people to get into the cashless world effortlessly.

&quot;One only needs a thumb. There was a time when an illiterate was called &#39;angutha chhaap&#39;. But your thumb is your bank now,&quot;&nbsp;Modi said.

Speaking at DigiDhan Mela in India&#39;s capital New Delhi --&nbsp;an event organised to celebrate the success of digital currency push -- Modi used humour to lash out at his political opponents for criticising demonetisation saying the drive was aimed at catching the &quot;mouse&quot; that eats away the nation&#39;s wealth.

BHIM can now be downloaded by Android users, and will be up in the iOS system too, NDTV reported.

Though he did not name anyone, his comments were directed towards opposition parties, which have been criticising the demonetisation move for yielding minuscule results in unearthing black money.

(WION with inputs from PTI)

BHIM can now be downloaded by Android users and will come up on iOS soon

To encourage digital transactions and make them more convenient, Indian Prime Minister Narendra Modi launched an Aadhar-based mobile payment application. Under this, payments can be made by just a thumb impression once the bank account is linked with Aadhar gateway. The new app, named BHIM (Bharat Interface for Money) after the main architect of Indian constitution Bhim Rao Ambedkar, will help seam the illiterate people to get into the cashless world effortlessly. "One only needs a thumb. There was a time when an illiterate was called 'angutha chhaap'. But your thumb is your bank now," Modi said. Speaking at DigiDhan Mela in India's capital New Delhi -- an event organised to celebrate the success of digital currency push -- Modi used humour to lash out at his political opponents for criticising demonetisation saying the drive was aimed at catching the "mouse" that eats away the nation's wealth. BHIM can now be downloaded by Android users, and will be up in the iOS system too, NDTV reported. Though he did not name anyone, his comments were directed towards opposition parties, which have been criticising the demonetisation move for yielding minuscule results in unearthing black money. (WION with inputs from PTI)

Demonetisation: Indian govt unveils thumb-impression digital payment app for poor

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