NEW DELHI -- India's new cashless and contactless instrument for digital payments, the e-RUPI, which aims to provide leakproof welfare services, is expected to make doing business in the country more efficient and is likely to bolster Prime Minister Narendra Modi's political support, according to analysts.
The e-RUPI is a person- and purpose-specific payment system that uses a QR code or SMS-based electronic voucher that is delivered to the mobile phone of a beneficiary. Under this one-time payment mechanism, users can redeem the voucher without a card, digital payments app or internet banking access, at the service provider.
