Paytm Payments Bank enables e-RUPI prepaid vouchers

To promote offline digital payments, Paytm has enabled merchants to accept e-RUPI prepaid vouchers, with a new payment collection method helping them increase their digital presence, onboard new customers and include those who do not have access to formal banking services or smartphones.

e-RUPI, a Government of India (GOI) initiative, is a cashless prepaid voucher that beneficiaries can present via SMS or QR Code. Paytm’s merchant partners can then scan, enter the amount to be paid and receive the payment directly in their bank account. (NPCI)

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1/6 e-RUPI, a Government of India (GOI) initiative, is a cashless prepaid voucher that beneficiaries can present via SMS or QR Code. Paytm’s merchant partners can then scan, enter the amount to be paid and receive the payment directly in their bank account. (NPCI)

The benefit of using e-RUPI vouchers is that beneficiaries or users, even those who do not have access to formal banking services or smartphones, to avail the convenience of digital payments. (MINT_PRINT)

2/6 The benefit of using e-RUPI vouchers is that beneficiaries or users, even those who do not have access to formal banking services or smartphones, to avail the convenience of digital payments. (MINT_PRINT)

According to Satish Gupta, MD and CEO, Paytm Payments Bank said, “Our constant endeavour is to bring access to digital banking to the underserved and unserved population of the country. With the acceptance of e-RUPI vouchers, merchants across the country will be able to promote cashless payments, which will further drive the government’s mission of introducing more Indians to the digital economy.” (Reuters)

3/6 According to Satish Gupta, MD and CEO, Paytm Payments Bank said, “Our constant endeavour is to bring access to digital banking to the underserved and unserved population of the country. With the acceptance of e-RUPI vouchers, merchants across the country will be able to promote cashless payments, which will further drive the government’s mission of introducing more Indians to the digital economy.” (Reuters)

The cap of e-RUPI vouchers was recently increased by RBI from Rs. 10,000 to Rs. 1,00,000, pushing for cashless payments to fulfill the mission of a digital economy. (HT File Photo)

4/6 The cap of e-RUPI vouchers was recently increased by RBI from Rs. 10,000 to Rs. 1,00,000, pushing for cashless payments to fulfill the mission of a digital economy. (HT File Photo)

Paytm Payments Bank is recording rapid growth because of the company’s innovative banking products. It is the largest UPI beneficiary bank and leads in FASTag issuances across the country. It has the largest scale in India in-terms of mobile transactions. (paytm.com)

5/6 Paytm Payments Bank is recording rapid growth because of the company’s innovative banking products. It is the largest UPI beneficiary bank and leads in FASTag issuances across the country. It has the largest scale in India in-terms of mobile transactions. (paytm.com)

PPBL enables users to avail benefits of Direct Benefit Transfers, a scheme by Government of India to transfer the subsidies of various social welfare schemes like LPG gas subsidy, MNREGA payments, Old Age Pension, Scholarships directly into the beneficiary’s bank account. (Reuters)

6/6 PPBL enables users to avail benefits of Direct Benefit Transfers, a scheme by Government of India to transfer the subsidies of various social welfare schemes like LPG gas subsidy, MNREGA payments, Old Age Pension, Scholarships directly into the beneficiary’s bank account. (Reuters)