Indian Government is in plan to more offers to attract its citizens to use BHIM app as many apps are ruling in the mode of Digital Payment options.
Now BHIM is coming up with cashback scheme for both customers and merchants. Ministry of Electronics and IT (MeitY) has announced that BHIM cashback scheme has been extended. Cashback worth Rs. 51 for new customers and a total of Rs. 1,000 to merchants opting the BHIM app.
With this deal, BHIM users will get Rs. 51 cashback on their first transaction using the app. cashback worth Rs. 51 for new customers and a total of Rs. 1,000 to merchants opting the BHIM app.For every unique transaction with a minimum value of Rs. 100 to any VPA (Virtual Payment Address)/ UPI ID, bank account, or mobile number, the BHIM app will offer a cashback worth Rs. 25. Maximum cashback, in this case, is limited to Rs. 500 per month.
BHIM app is offering cashback on a minimum transaction value of Rs. 10. For the number of transactions less than 50 but equal to or more than 25, the app will offer a cashback worth Rs. 100, while a Rs. 200 cashback will be given for transactions equal to or more than 50 but less than 100. Similarly, the app will offer cashback worth Rs. 250 for the number of transactions equal to or less than 100.
Incase of Merchants, BHIM is offering cashback of 10 percent of the transaction value with an upper limit of Rs. 50 per transaction. Merchants need to credit minimum 10 transactions with a minimum transaction value of Rs. 25. Additionally, the app offers a cashback of 10 percent of the transaction value with an upper cap of Rs. 50. This is valid for any bank merchant receiving payments through the BHIM app or via BHIM UPI. Minimum five transactions need to be credited with a minimum value of Rs. 25 to avail the cashback.