Good news! BHIM App gives cashback plans to customers, merchants; here's how
BHIM App is a mobile app developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI), and is an initiative to enable fast, secure, reliable cashless payments through your mobile phone.
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Govt to allow e-payments for charging electric vehiclesTo further boost usage of government's BHIM App, the ministry has now announced a cashback offers for new and existing users. Not only this, even customers and merchants can avail cashback plans on using the app. It needs to be noted that, BHIM has also learn the ways of private payment wallet like Paytm and MobiKwik, who have been giving massive cashback offers on various usage to make their digital wallet friendly and flexible to customers. On BHIM App customers are entitled to receive cashback right from downloading the application to making the transactions.
The Ministry of Electronics and Information Technology (MeitY) through it's Digital India campaign tweeted saying, " Great news for @NPCI_BHIM users!! @NPCI_NPCI announced alluring #BHIMCashback plans for new and existing users, for 'customers' & 'merchants' both."
#JUSTIN | Great news for @NPCI_BHIM users!! @NPCI_NPCI announced alluring #BHIMCashback plans for new and existing users, for 'customers' & 'merchants' both. To #KnowMore visit https://t.co/AVRBhaXoQ1#BHIM #BHIMSe #IAmDigital #DigitalPayments #DigitalInitiatives #DigitalIndia pic.twitter.com/EOVDmGTKHS
— Digital India (@_DigitalIndia) April 14, 2018
Starting with new customers, they can earn up to Rs 51 cashback on BHIM, by completing their 1st financial transaction. All they have to do is download the app from your registered mobile number. Then link your bank account and carry the first financial transaction sucessfully.
The new customers can make the first transaction value to as low as Rs 1 for availing the Rs 51 cashback.
Going ahead, up to Rs 750 cashback every month a customer can earn on BHIM App.
A customer will receive Rs 25 cashback for every unique transaction (VPA/UPI ID, Account Number, Mobile Number) with a minimum transaction value of Rs 100. The customer is bound to earn maximum cashback of Rs 500 per month.
Going ahead, BHIM App is offering cashback to minimum transaction value of Rs 10 and above. For number of transactions which are more than or equal to Rs 25 but fewer than Rs 50 per month, a customer will get an incentive of Rs 100.
If the transaction is more than or equal to Rs 50 but less than Rs 100 per month, they the customer will receive incentive of Rs 200. As for transaction more than or equal to Rs 100 per month, an incentive of Rs 250 is offered.
Coming back to merchant cashback scheme, they are eligible to earn up to Rs 1000 cashback every month.
The merchants on BHIM who has declared himself/herself as “I Am A Merchant” and is receiving payments via BHIM/BHIM UPI app will be eligible for the Cashback of 10% of the transaction value with an upper cap of Rs 50 per transaction. Under this, the minimum credit transaction should be more than or equal to Rs 10, whereas the minimum transaction value to be above or equal to Rs 25.
Other bank merchants who receiving payment through the BHIM/BHIM UPI app will receive cashback of 10% of transaction value with an upper cap of Rs 50. For this, the minimum credit transaction should be more than or equal to Rs 5, whereas the minimum transaction value to be above or equal to Rs 25.
Recently, the MeitY extended the BHIM cashback scheme for merchants until March 31.
Giving cashback plans is not something for the first time the government is practicing in order to promote BHIM App.The government last year launched two new schemes namely BHIM Referral Bonus Scheme and BHIM Merchant Cash back Scheme for increasing the number of users.
BHIM App is a mobile app developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI), and is an initiative to enable fast, secure, reliable cashless payments through your mobile phone.
