• Anand Kumar Bajaj, Founder & CEO at PayNearby


• 02.08.2021 03:00 pm
#innovation #bankingtech #regtech

The e-RUPI initiative is an innovative model of enabling digital transactions through voucher QR codes and links through both smartphones and feature phones without an intermediary or a bank account. We are proud to be associated with the e-RUPI initiative through our client banks. NPCI has been at the forefront of digital innovation for payments in India and we are pleased to be offering the entire NPCI product stack through our products to our client banks.

With e-RUPI, the government have successfully created a direct channel to reach and help the beneficiaries. The system will now allow the Indian government to implement their welfare policies at speed and scale eliminating the multiple tedious processes beneficiaries went through to get funds previously. e-RUPI would also promote financial inclusion by enabling the underbanked population to receive the benefits and funds of welfare schemes and play a crucial role in bolstering the economy of the country from the ground up. The flexible and scalable framework will also pave the way for the use of prepaid vouchers in public, private, and corporate setups.

InfrasoftTech provides the e-RUPI technology stack to banks by helping them in implementing the tech right from integration with the existing systems to deployment as per their target beneficiaries. Currently, we are working with two banks of the 11 live banks as per NPCI. We are shortly adding more client banks with the e-RUPI features.