In order to boost ease of digital payment acceptance by MSMEs across India, Mswipe has gone live with e-RUPI for all its 6.75 lakh POS (point of sale) and 1.1 million QR merchants, the company said in a statement on Wednesday.
The company has powered hospitals and healthcare facilities to accept digital vouchers from beneficiaries. Earlier in August, Prime Minister 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 aims to empower merchants to accept digital payments by scanning the QR or SMS string-based voucher on customers' phone.
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Mswipe is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 1.1 million QR merchants across the country
Commenting on the development, 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," he added.
What's new for customers?
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, fertiliser 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, Mswipe said.
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