Boosting ease of digital payment acceptance by MSMEs across India, Mswipe has gone live with e-RUPI for all its 6.75lakh POS and 1.1 million QR merchants. Mswipe has powered hospitals and healthcare facilities to accept the digital vouchers from beneficiaries, thereby giving a boost to the vaccination drive against COVID-19.
Earlier in August, Prime Minister Shri Narendra Modi had launched e-RUPI to provide for a digital payment solution between sponsors of services and beneficiaries.
By taking e-RUPI live on its platform, Mswipe, a leading end-to-end digital enabler for MSMEs, will power merchants to accept digital payments by simply scanning the QR or SMS string based voucher on the customers’ phone.
Ankit Bhatnagar, Head of Product, Mswipe said, “e-RUPI built on the UPI platform is a step in the direction of expanding the digital payments infrastructure in the country and in empowering businesses to accept payments in the most suitable form from their customers. This democratizes digital payments and at the same time has a tremendous potential to limit misuse of subsidies that are meant for government welfare schemes and under corporate support programmes for their employees. Providing e-RUPI is a step towards our commitment in empowering our merchants to adopt all kinds of digital acceptance methods to improve customer experience and also boost their revenue.”
Merchants can now use the ‘UPI Voucher’ feature on the Mswipe Merchant App to accept prepaid e-RUPI based payments from customers. They can accept payments on their POS terminals as well as by registering on the Mswipe Merchant App. Customers using e-vouchers will not have any dependency on carrying a card or having a bank account or even internet banking services or any digital payment for that matter as they will be able to receive the vouchers via SMS on their Aadhaar registered mobile number.
The electronic voucher can be used for government welfare programmes such as vaccination, nutrition, fertilizer subsidies among others in addition to helping corporates roll out employee benefit initiatives including reimbursement for COVID inoculation, travel allowances, business expenses and corporate social responsibility initiatives.
e- RUPI will connect the sponsors of the services to the beneficiaries and service providers through a digital interface. It will also play an important role in strengthening Direct Benefit Transfer while ensuring transparency.