What is eRupay and how does it work.

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Written By Sujit Guha

I am a IT professional managing corporate financial governance with keen intrest in market

Lot of it has been said and explained , in fact many people ask what is difference in eRupay vs lets a digital money that I transfer. I will explain it in grandfather terminology so that you understand it quickly.

Most of the site say it’s a tokenised currency. So what happens in reality is instead of printing currency they have a digital entry of the currency. So this way they will save on paper , and control fake currency circulating.

So instead of a 10 Rupee note you would have a QR code which represents the money. So this QR code by itself is money unlike in Paytm / BHIM and other apps you need to have money in your account and the QR code is link to the bank account.

So for example you go to market and carry your phone with the QR code and buy some apples. The vendor accepts eRupay you have to flash the QR code and he will have the money. So even if you bank account does not have money this eRupay acted as a voucher.

So to accept erupay you don’t need a bank account you just need the app which supports the erupay something like wallet just that its an ewallet.

Hope I could explain you what is all of this erupay all about .

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