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Bank of Baroda Launches eRUPI Digital Gifting Vouchers
Bank of Baroda (BoB) has launched eRUPI P2P digital vouchers on its bob इ Pay UPI app, allowing secure, cashless, and purpose-specific gifting to friends, family, or beneficiaries. BoB is the first to feature these vouchers.
Author: Kanal English Desk
Published: 10 hours ago
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Bank of Baroda (BoB) has introduced a new way for people to send digital gifts using its bob इ Pay UPI app. The bank has launched person-to-person (P2P) eRUPI digital vouchers, powered by the National Payments Corporation of India’s (NPCI) e-RUPI platform; Business Line reported.
This is the first such feature in the banking industry, designed to make gifting simple, secure, and cashless. Customers can now send purpose-specific prepaid vouchers to friends, family, or other beneficiaries.
Key Features of the Vouchers
- Voucher value can range from ₹1 to ₹10,000.
- They are non-transferable and will be refunded automatically if not redeemed within the validity period.
- There is no restriction on the number of vouchers, though the usual daily UPI transaction limits will apply.
- The feature is interoperable across UPI platforms, meaning it can be used widely.
Initially, these vouchers can be used for the ‘Food’ category, but more categories will be added in the future. They can be redeemed at any UPI-enabled merchant.
Why It Matters
According to BoB, the eRUPI P2P digital voucher is a private, safe, and inclusive method of gifting. It ensures that the money is used exactly for the intended purpose.
Sanjay Mudaliar, Executive Director of Bank of Baroda, said the initiative will help expand the use of UPI and eRUPI, making digital payments more accessible to a wider audience.
The NPCI explains that eRUPI is a cashless and contactless digital payment instrument. It guarantees that the money value stored in the voucher reaches the intended recipient and is used only for the benefit specified by the sender.
The Bigger Picture
With festivals and special occasions often involving gift-giving, BoB’s new feature offers a modern alternative to cash and physical vouchers. It also reflects the growing trend of using digital tools for convenience, transparency, and security in financial transactions.
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