The Government of India is leaving no stone unturned in pushing its BHIM app to garner more digital transactions and now it has come up with attractive cashback offers for customers as well as merchants.
Under the new cashback scheme, new users will be entitled a cash benefit worth Rs. 51 while merchants will get a total benefit of Rs. 1000 when opting for BHIM App. The best part of the offer is it does not put a transaction limit to avail the scheme. In addition, a cashback of Rs. 25 will be given for every transaction with a minimum value of Rs.100 to any UPI ID, mobile number, virtual payment address. The maximum limit for cashback has been set to Rs. 500.
#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
- There are more offers, such as for transactions of Rs. 100 or above, cashback shall be given starting on a minimum transaction value of Rs.10.
- Further, a user performing transaction between 25 to 50( both inclusive) will be entitled to a cashback of Rs. 100.
- For transactions greater than 50 and less than 200, Rs. 200 cashback will be given. Similarly, a cashback of Rs. 250 will be given for transactions equal to or less than 100.
Merchants too shall be able to avail the cashback offer much similar to regular customers, however, the maximum limit, in this case, has been set to Rs. 50 per transaction. In order to avail the benefit, merchants need to credit at least 10 transactions whose credit value is Rs. 25.
Moreover, a 10 percent cashback of the transaction value will also be available at an upper cap of Rs. 50. All the benefits mentioned so far are available for any bank merchant receiving payment either through BHIM UPI or BHIM app.