e-Rupi Voucher: Know what is e-rupee voucher, common people will get its benefit like this, here are the complete details

The Reserve Bank of India (RBI) has allowed non-banking companies to issue e-rupee vouchers to the general public through prepaid payment instruments.

If you want to use e-form digital vouchers, then soon e-form vouchers can be issued by the government for the common people as well. Because the Reserve Bank of India (RBI) has allowed non-banking companies to issue e-rupee vouchers through prepaid payment instruments. That is, now non-banking companies will also be able to issue e-rupee vouchers through prepaid payment instruments. Apart from this, the central bank has also allowed the issuance of e-rupee vouchers on behalf of individuals. At present, it is proposed to increase its coverage and reach keeping in view the benefits for common people and beneficiaries alike.

It is also proposed to simplify the process of issuance and redemption of e-Rupee vouchers on behalf of individuals and enable certain other aspects of the existing structure, says RBI Governor Shaktikanta Das. These measures will make the benefits of e-form digital vouchers accessible to one. wider set of customers and further simplify the digital payment process in the country. This will give a lot of relief to the common people.

What is e-Rupee and how does it work?

E-Rupee is a digital voucher that a customer receives on his phone in the form of SMS or QR code. This is a prepaid voucher, which he can accept and redeem at any centre. For example, if the government wants to cover special treatment of an employee in a hospital, it can issue an e-Rupee voucher for a specified amount through a participating bank. The employee will receive an SMS or a QR code on his/her feature phone/smart phone. He can visit the specified hospital, avail the services and pay through the e-voucher received on his phone.

What are the benefits of e-Rupee?

E-Rupee is a cashless voucher-based payment method that helps customers redeem vouchers without having access to cards, digital payment apps or internet banking. E-Rupee does not require common people to have a bank account, which is a major advantage over other digital payment forms. This ensures an easy, contactless two-step redemption process that does not even require sharing of personal details.

Apart from this, e-Rupee can also work on basic phones, and hence it can be used by people who do not have smart phones or in places where internet connection is not available.