<\/span><\/h3>\r\n\r\n\r\n\r\nHere find the list of the on-boarded Banks that would be live with the eRUPI-<\/em><\/p>\r\n\r\n\r\n\r\nAxis Bank:<\/strong> This will be the Issuer as well as Acquirer. The acquiring app will be Bharat Pay.
HDFC Bank:<\/strong> It will be both Issuer and the Acquirer. The acquiring app will be HDFC Business App.
Canara Bank:<\/strong> It will be the Issuer.
ICICI Bank:<\/strong> ICICI Bank will be both Acquirer as well as Issuer. The acquiring app for this bank is Bharat Pe & PineLabs.
Bank of Baroda:<\/strong> It will be both Issuer and Acquirer. The acquiring app will be BHIM Baroda Merchant Pay.
Indusind Bank:<\/strong> It will be the Issuer.
Indian Bank:<\/strong> It will be the Issuer.
Kotak Bank:<\/strong> It will be the issuer.
Punjab National Bank:<\/strong> PNB will be both issuer and the acquirer. The acquiring app for PNB is PNB Merchant Pay.
State Bank of India:<\/strong> SBI will be both issuer and the acquirer. The acquiring app for SBI is YONO SBI Merchant.
Union Bank of India:<\/strong> It will be the issuer.<\/p>\r\n\r\n\r\n\r\n<\/span>What are the Industry-specific advantages of Digital Currency?<\/span><\/h2>\r\n\r\n\r\n\r\nAs eRUPI is easy, safe & secure as it keeps the details of the beneficiaries completely confidential. It is estimated that this voucher payment medium is going to be relatively faster and reliable.<\/p>\r\n\r\n\r\n\r\n
Here, find the significant industry-specific benefits.<\/p>\r\n\r\n\r\n\r\n
<\/span>Advantages for Corporate Industry<\/span><\/h3>\r\n\r\n\r\n\r\n\r\n- Corporates can enable the well-being of their employees<\/li>\r\n
- End to end the digital transaction and doesn\u2019t require any physical issuance hence leading to cost reduction<\/li>\r\n
- Voucher redemption can be tracked by the issuer, as it provides reliability.<\/li>\r\n
- Quick, safe & contactless voucher distribution<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n
<\/span>Advantages for Hospitals<\/span><\/h3>\r\n\r\n\r\n\r\n\r\n- Its easy, easy & secure, is authorization can be verified with a verification code.<\/li>\r\n
- Hassle-free & Contactless payment collection.<\/li>\r\n
- Quick redemption process as the voucher can be redeemed in a few steps and lesser decline due to pre-blocked amount.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n
<\/span>Advantages to the Customer<\/span><\/h3>\r\n\r\n\r\n\r\n\r\n- It\u2019s contactless as the beneficiary should not carry a printout of the voucher<\/li>\r\n
- 2 step redemption process<\/li>\r\n
- It is safe and secure as the beneficiary doesn\u2019t need to share personal details while redemption; hence privacy is maintained.<\/li>\r\n
- No digital or bank presence is required.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n
<\/span>Reasons why digital currencies are expected to do well in India?<\/span><\/h2>\r\n\r\n\r\n\r\nAs per the RBI, there are four reasons why digital currencies are expected to do well in India.<\/p>\r\n\r\n\r\n\r\n
\r\n- There is increasing penetration of digital payments globally as people are mostly inclined towards paying digitally for every small transaction.<\/li>\r\n
- India\u2019s high currency to GDP ratio, according to the RBI, \u201cholds out another benefit of CBDCs\u201d.<\/li>\r\n
- As the spread of private virtual currencies such as Bitcoin & Ethereum.<\/li>\r\n
- CBDCs might also cushion the general public in an environment of volatile private VCs.<\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"
When it comes to digital innovations, technical advancement, and smooth transactions in service delivery, India can give global leadership along with the big countries of the world. e-RUPI (Digital currency)!!! … <\/p>\n","protected":false},"author":1,"featured_media":2492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,484],"tags":[760,761,759],"class_list":["post-2488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile-application-development","category-news-update","tag-digital-currency","tag-digital-payment-system","tag-e-rupi"],"_links":{"self":[{"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/posts\/2488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/comments?post=2488"}],"version-history":[{"count":5,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/posts\/2488\/revisions"}],"predecessor-version":[{"id":3214,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/posts\/2488\/revisions\/3214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/media\/2492"}],"wp:attachment":[{"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/media?parent=2488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/categories?post=2488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ripenapps.com\/blog\/wp-json\/wp\/v2\/tags?post=2488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}