Govt asks NPCI to start Electronic Vaccine Vouchers

Government has asked National Payments Corporation of India (NPCI) to launch platform for electronic vaccine vouchers.

What are Electronic Vaccine Vouchers?

• These vouchers are like electronic prepaid instruments which can be used only for vaccination.
• Employers can purchase these vouchers in bulk.
• Vouchers will be sent to smartphone or feature phone of employee.
• Employee will then share voucher at hospital for cashless vaccination.
• With the help of vouchers, hospitals would get money instantly credited to its account.
• Vaccine vouchers will enable employees to get vaccinated at nearest centre.
• Vaccine e-vouchers will also enable private sector to plan when it comes to booking orders with vaccine manufacturers.

Role of NPCI

NPCI is in the process of short-listing banks in order to issue these vouchers. Banks will offer vouchers as a payments service in partnership with technology service providers.

How these vouchers will be generated?

NPCI seeks to deliver these vouchers as QR code to smartphones and as a code to feature phones. One mobile can be used to deliver vouchers for entire family.

Advantage of Vouchers

With the help of these vouchers, hospitals will get the payments for vaccination instantly into their bank account. Although, the platform was developed for vaccines, it can be used for any form of targeted direct benefit transfers. It will eliminate the need of subsidies and providers would not face any problem in recovering payments from government.

National Payments Corporation of India (NPCI)

NPCI is an umbrella organisation that operates retail payments and settlement systems under the parent head of Reserve Bank of India.  It was founded in December 2008. It is a not-for-profit organisation registered under Section 8 of Companies Act 2013. It was  established by Reserve Bank of India and Indian Banks’ Association.

Month: Current Affairs - July, 2021