What is e-RUPI?
The e-RUPI voucher is an end-to-end digital solution to sponsor benefits and services to beneficiaries. e-RUPI can be issued by the sponsor with the support of Issuer banks. It is a cashless contactless voucher-based payment system, redeemable without a card, digital payments applications or access to internet banking.
It is a person and purpose-specific digital voucher, which is transmitted and received in the form of SMS or QR Codes.
What is the Maximum Amount for e-RUPI vouchers?
The cap on the amount for each voucher is INR 1,00,000/- for Government schemes and INR 10,000/- per voucher for Private entities.
Who can issue e-RUPI vouchers?
e-RUPI can be issued only by banks authorized by RBI to issue Prepaid Payment Instruments (PPI) and who are participating as Payment Service Providers (PSP) in the UPI ecosystem.
Who can avail the facility of e-RUPI?
The e-RUPI voucher is allowed to be redeemed for Person to Merchant (P2M) purchases only.
Is offline mode of creation/redemption of vouchers available?
The voucher issuance format will be digital only for e.g. QR code, SMS string etc. The Issuer Bank/Payer PSP may also send the communication for issuance of the e-RUPI voucher to the end beneficiary via another mode basis on the Sponsor request (digital mode only).
What is the validity of an e-RUPI Voucher?
The validity of the e-RUPI voucher shall be defined by the Issuer Bank/Payer PSP as per the use case (Maximum validity per voucher – 1 year).
Can e-RUPI be redeemed for cash/cashback?
e-RUPI shall be permitted to be redeemed only for the purchase of goods and services from designated merchants bearing valid Merchant Category Code (MCC), as may be defined by the Issuer at the time of issuance of e-RUPI. e-RUPI shall not be permitted for cash out or cash back on redemption.
How does e-RUPI work?
Why e-RUPI and not conventional modes of cash transactions?
For Governments and Private entities
For Customers
Which laws provide the legal framework for e-RUPI?
Payment and Settlement Systems Act, 2007 (PSS Act)
Section 43A of IT Act, 2000 and the IT Rules, 2011
Section 25 of the Payment and Settlement Systems Act, 2007 (PSS Act)
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