To push digital payments further, Prime Minister Narendra Modi has announced 'cashback' and 'referral bonus' schemes for using BHIM - Bharat Interface for Money - app. PM Modi said for every person you introduce to the BHIM app, you will get a cashback of Rs 10. "If you refer 20 people a day, you can earn Rs 200," he added. Developed by National Payments Corporation of India (NPCI), the Aadhaar-linked BHIM mobile app is based on the Unified Payment Interface (UPI). In December last year, PM Modi had launched the app for facilitating electronic payments by consumers. In March, the government launched Aadhaar Pay, a new Android-based smartphone app. The BHIM-Aadhaar app will pave the way for making digital payments by using the Aadhaar platform.
Quoting PM Modi NITI Aayog tweeted that "just by helping more people use BHIM app, India will receive cashback and referral Bonus."
Just by helping more people use #BHIM App, India will receive CashBack & Referral Bonus. You'll also help build #CleanIndia: @narendramodi pic.twitter.com/uEiC5YVR96— NITI Aayog (@NITIAayog) April 14, 2017
How to earn the referral bonus:
The 'referral bonus scheme', which is for individuals, is meant to get more people on the BHIM platform and asking them to do transactions with others using BHIM or by referring new users on it. The bonus will be paid to both the existing and new users of BHIM. The referral will only be considered successful after three unique successful financial transactions by the new user.
After three unique successful transactions with a minimum limit of Rs 50 to any three unique users (either to customers or to merchants), the existing and the new user will be notified about the bonus amount via notification in BHIM app. The existing user will get Rs 10 per successful referral, while the new user will get Rs 25 for downloading and transacting from the app.
Under the 'cashback scheme', which is only for merchants, users can earn up to Rs 300 per month.
(With PTI inputs)Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
