In the healthcare system, e-RUPI is the new fintech initiative for instant payment to healthcare service providers in AB-PMJAY
Speaking at IFTA 2022, hosted by India FinTech Forum, a not for profit fintech advocacy group representing Indian fintech companies, Dr R.S. Sharma, CEO, National Health Authority said that just like UPI revolutionised payment transactions in India, Unified Health Interface (UHI) will revolutionise digital health service delivery.
UPI has made India the world’s largest real time payments player. In a short period, UPI transaction volume has surpassed the combined volume of credit and debit cards. “With digital transactions and transparency at the core of UHI, this would mean positive outcomes for users, health service providers as well as the transacted entities,” Dr Sharma said.
“UHI facilitates the ease of doing business for health care service providers by granting them access to a large number of users, through the medium of a common platform. This paradigm shift in healthcare delivery also gives rise to a sea of opportunities for the emerging healthtech ecosystem. A rapidly evolving digital health sector allows for more innovation and emergence of new services in digital health that have not been possible before”, he added.
In the healthcare system, e-RUPI is the new fintech initiative for instant payment to healthcare service providers in AB-PMJAY. It is a person and purpose specific digital instrument based on the architecture of UPI. Talking about the benefits of e-RUPI in healthcare, he further added, “e-RUPI will have myriad use cases: to start with health, nutrition, education and agriculture are just a few areas that are going to benefit from it. A number of states have already started using e-RUPI for various benefit delivery programs in their states.”
Dr Sharma believes that it is time that we innovate new products in the fintech industry which could be combined with healthtech for an affordable, scalable and accessible digital healthcare ecosystem. He mentioned that he is looking forward to seeing such innovations in fintech to become the foundation of real change in India.