Prime Minister Narendra Modi will launch a new digital payment solution called e-RUPI. Banks will issue electronic vouchers for customers to redeem welfare benefits without having to share bank account details. The e-voucher solution has the potential to eliminate fraud and corruption. The Prime Minister of India, Narendra Modi will be launching ‘e-RUPI’, an electronic voucher-based digital payment solution at 4:30 p.m IST on Monday. According to a statement from the Prime Minister’s Office, e-RUPI is a cashless and contactless digital payment e-voucher in the form of a QR code or SMS string delivered to the beneficiary’s mobile phone. The e-voucher can be redeemed at the service provider without needing a card, digital payment app or internet banking service. The e-RUPI is a one-time payment mechanism that does not require any physical interface for transactions and is considered safe as it’s prepaid in nature. It ensures that the payment to the service provider is made only after the transaction is completed without involving any intermediary.