NPCI, Kotak Bank & Pine Labs on How Big the e-Rupi can be

The Prime Minister Narendra Modi recently launched e-Rupi, an electronic digital payment that works on QR code and/or SMS.

 




The Prime Minister Narendra Modi recently launched e-Rupi, an electronic digital payment that works on QR code and/or SMS. Think of it as a pre-paid coupon or voucher that can be redeemed for specified services and goods. The users of the e-Rupi can redeem the voucher even without a smartphone, bank account, debit or credit card or any digital payment app. Its a seamless one-time payment mechanism with a two-step redemption process. It has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health & Family Welfare and the National Health Authority. PM Modi has already said it can be used for direct benefit transfer (DBT) of subsidies. It is also expected to be used in healthcare. What else can the e-Rupi be used for? Will it be embraced by India Inc for making pre-paid UPI payments? How safe is it? How are banks doing the backend integration if the recipients of the e-Rupi don't need to have any account? Is this the next wave of growth for UPI considering e-Rupi can also work on 2G and feature phones? ET Now's Nayantara Rai discusses this and more with this power packed panel: Praveena Rai, COO, NPCI; Deepak Sharma, President, Kotak Mahindra Bank as well as Kush Mehra, Chief Business Officer, Pine Labs. Watch this video here!

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e-Rupi: NPCI, Kotak Bank & Pine Labs on How Big the e-Rupi can be
NPCI, Kotak Bank & Pine Labs on How Big the e-Rupi can be
The Prime Minister Narendra Modi recently launched e-Rupi, an electronic digital payment that works on QR code and/or SMS.
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