The National Payments Corporation of India (NPCI) on November 08, 2024, issued a circular regarding the enhancement to the e-RUPI voucher.
In 2021, e-RUPI voucher was introduced as a part of the Digital India platform, with the objective of engaging consumers who may not have access to digital payment service. The e- RUPI voucher serves as a cashless and contactless payment instrument tailored to person specific and purpose.
The following entities are involved in the e-RUPI voucher journey:
• Issuer: Entity (Banks only) authorised to issue Prepaid Payment Instrument (PPIs) and participating as Payment Service Providers (PSPs) in UPI are allowed for issuance of e-RUPI voucher.
• Sponsor: Full KYC compliant account holders who shall initiate the request for creation of e-RUPI voucher to the issuer.
o Government
o Corporate
o Individuals (bank account linked on UPI App)
• Beneficiary: Person to whom e-RUPI voucher is issued. e-RUPI beneficiary is an Individual who may or may not be a UPI User or bank account holder.
• Merchant: Location/ Point of sale where beneficiary shall redeem the e-RUPI voucher in exchange of goods & services (as per the purpose defined at the time of voucher creation).
• Acquiring: Banks who acquire the merchants and provide facility/ capability to accept the e-RUPI voucher (String/ QR) for redemption.
• UPI App: UPI enabled applications that avail the services to create, link and redeem e-RUPI voucher via UPI.
[Notification No. NPCI/e-RUPI/OC No.05/2023-24]
