Mswipe announced today that it has enabled e-RUPI for all of its 6.75 lakh POS and 1.1 million QR merchants to boost the simplicity of digital payment acceptance by MSMEs across India.
Mswipe enables hospitals and healthcare providers to accept digital vouchers from patients.
Prime Minister Narendra Modi announced the start of e-RUPI early last month, which will enable a digital payment option between service sponsors and beneficiaries.
Mswipe’s implementation of e-RUPI on its platform promises to enable merchants to accept digital payments by simply scanning the QR or SMS string-based coupon on the customer’s phone.
Ankit Bhatnagar, Head of Product at Mswipe, commented on the move, saying that e-RUPI based on the UPI platform is a step in the direction of growing the digital payments infrastructure in the country and empowering businesses to take payments most appropriately from their customers.
This democratizes digital payments while also having a huge potential to minimize the misuse of subsidies intended for government welfare schemes and corporate support programs for their employees. Providing e-RUPI is a step toward our commitment to empowering our merchants to use all types of digital acceptance methods to increase customer experience and revenue.
What’s new for customers
Merchants can now take prepaid e-RUPI-based payments from customers by using the ‘UPI Voucher’ function on the Mswipe Merchant App. They can accept payments using their POS terminals or by registering on the Mswipe Merchant App.
Customers who use e-vouchers will not need to carry a card, a bank account, online banking services, or any other digital payment method because they will receive the vouchers by SMS on their Aadhaar-registered mobile number.
The electronic voucher can be used for government welfare programs such as vaccination, nutrition, and fertilizer subsidies, among other things, as well as to assist corporations in implementing employee benefit initiatives such as reimbursement for COVID inoculation, travel allowances, business expenses, and corporate social responsibility initiatives.
Through a digital interface, e- RUPI will connect service sponsors to beneficiaries and service providers. According to Mswipe, it would also play a key role in enhancing Direct Benefit Transfer while maintaining transparency.
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