How e-RUPI Can Revolutionize P2P Cryptocurrency Purchases in the Future

BILLIONS! That’s what the future of the digital currencies market holds.  Cryptocurrencies are attracting more and more funds towards them after the approval of Bitcoin ETFs and after the halving event that eventually reduces the amount of new bitcoins entering the market.  While a decentralized economy obtains huge popularity, central banks have gone into a deep discussion on it. It gives the birth of ‘e-RUPI’.

The combination of ‘e-RUPI’ and Cryptocurrencies will be a revolutionary idea for the future of finance.  Now you may wonder, cryptos are decentralized and e-RUPIs are centralized, how both can be integrated? That’s where the power of P2P comes in. Still confused? No worries, I will explain it further from the basics to the depth of both.  Without wasting a minute, let’s begin.

What is e-RUPI

For the people who are all new to this concept, let me explain what is e-RUPI in simple terms. Imagine a digital voucher that can be used for specific purchases, like a gift card. That's e-RUPI! Launched by a group of institutions in India that looks after digital payments (NPCI) along with some government departments, it lets people redeem these vouchers without needing a debit card, app, or internet banking.

e-RUPI is sent like a text message or QR code, so it's safe and contactless. Plus, the money is already loaded in the voucher, making transactions fast and reliable.

The Benefits of e-RUPI

Unlike cryptocurrencies, e-RUPI offers several benefits for merchants, corporates, and as well as consumers.  it allows corporates to digitally deliver well-being benefits to employees (like meal vouchers) in a quick, safe, and contactless way. This eliminates the need for physical vouchers, reduces costs, and even lets companies track how the vouchers are being used.

Using e-RUPI is a secure verification code that authorizes the voucher, there's no need to handle cash or cards, and the redemption process is quick with fewer declines because the amount is already locked in.

e-RUPI offers a safe and convenient way to receive benefits. it's completely contactless (no printed vouchers needed), easy to redeem with just two steps, protects your privacy by not requiring any personal details during redemption, and even works for people without a bank account or digital payment apps.

e-RUPI vs Cryptos

Many of us are confusing ourselves in differentiating between e-RUPI and cryptos. It won’t happen again.  The variation linking both of them is simplified below.