What about e-rupee in jupiter?!
Why there’s such a need for e-Rupee and how it’ll benefit users considering existing digital world full of digital wallets, UPIs etc. How it’s different from funds in our account which can be used to make payments anytime?
e-rupee works on banks not on the nbfc, so it should work on federal e rupee bank app
There are many ways in which it is different,
1st. They are digital version of normal currency, they all have unique serial number unlike UPI money
2nd. For server costs, it is more efficient than the UPI
3rd. Govt. is planning to make e-rupee wallet offline in future so that we wont have to face network issues while making a payment
4th. Whatever money you will have in wallet will be in forms of notes or coins rathe than combined as in UPI balance
5th UPI is directly connected to bank but e-rupee wallet is not
But from my personal review after its use, it is still not beneficial for users in anyway. So, I dont think there will be any demand for that in near future.
That offline transaction is a good thing for people like me who just have broadband connection at home and don’t recharge their number (like for a year or two)
Wish there would be a way to verify SIM via RCS technology
Banking app always send message to verify sim and there’s no other way like OTP auto-fetch or similar method.