Current Affairs - Economy - Discussion

OmniCard launched India's first UPI-based Flexi Benefits Wallet, called the Flexi Benefits Basket, in July 2026. Developed by Eroute Technologies Private Limited, the platform enables employees to manage tax-efficient benefits through a single digital wallet and make UPI Scan-and-Pay transactions at nearly 60 million UPI-enabled merchants. Built on an RBI-licensed Prepaid Payment Instrument (PPI) platform, it supports benefits such as meals, fuel, telecom, books, and gadgets. The solution also uses Merchant Category Code (MCC)-based controls to ensure tax compliance and aligns with the Income-tax Rules, 2026, enhancing employee tax savings and digital payment convenience.