Mumbai: In a significant move toward enhancing digital payment experiences, Bank of Baroda has launched an industry-first eRUPI Person-to-Person (P2P) Digital Gifting feature on its flagship UPI platform, bob इ Pay. The feature leverages the NPCI’s eRUPI platform to enable customers to send purpose-specific, prepaid digital vouchers to individuals, marking a new milestone in India’s digital payments ecosystem.
This innovative feature allows users to gift personalised digital vouchers for specific categories of goods and services, with the initial rollout focused on the ‘Food’ category. Additional categories are expected to be added in the future.
Key Features of eRUPI P2P Digital Gifting
- Denominations: Vouchers can be issued for amounts ranging from ₹1 to ₹10,000.
- Redemption: Vouchers are redeemable at UPI-enabled merchants.
- Validity: If unredeemed within the set period, the amount is automatically refunded to the sender.
- Security: Vouchers are non-transferable, ensuring secure and purposeful usage.
- Interoperability: The vouchers are usable across all UPI platforms, not just bob इ Pay.
- Limits: Unlimited vouchers can be issued per user, subject to the daily UPI transaction limit.
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Customer-Centric Innovation
Commenting on the launch, Sanjay Mudaliar, Executive Director, Bank of Baroda, said:
“With the launch of the industry-first eRUPI P2P Digital Gifting feature, Bank of Baroda is deepening its commitment to delivering innovative, customer-centric solutions on the UPI platform. These digital vouchers are a secure, private and inclusive way of gifting. Our aim is to drive greater adoption and extend the benefits of digital payments to a wider audience.”
This move reflects the bank’s commitment to expanding the scope of UPI beyond peer-to-peer transactions, offering users more versatile, secure, and context-driven payment options.
bob इ Pay Expands Global Reach
In addition to this launch, bob इ Pay continues to strengthen its global presence. The app now supports international UPI services in eight countries — including the USA, France, Singapore, Mauritius, UAE, Sri Lanka, Bhutan, and Nepal. It enables cross-border digital payments, foreign inward remittances (notably from Singapore), and UPI usage for NRIs.
Strategic Implications
This launch is significant in advancing the Reserve Bank of India’s vision for the adoption of Central Bank Digital Currency (CBDC) and programmable payment instruments. It also enhances the utility of eRUPI by transitioning it from a B2C voucher model into peer-to-peer use cases, making digital gifting more secure, targeted, and meaningful.
As the digital payment landscape matures, Bank of Baroda’s initiative is expected to set a precedent for personalized, purpose-specific payments, further bridging traditional banking with next-generation fintech solutions.
About Bank of Baroda
Bank of Baroda, a leading public sector bank, serves over 150 million customers through a strong global presence spanning 17 countries. Known for its customer-centric products and innovation, the bank continues to expand digital banking solutions while delivering competitive retail, corporate, and international banking services.
