14 April 2017, India:
PM Narendra Modi has announced two schemes under the BHIM App- namely BHIM Referral Bonus Scheme and BHIM Merchant Cashback Scheme.
The BHIM App is positively impacting several lives across the nation: PM @narendramodi
— PMO India (@PMOIndia) April 14, 2017
BHIM Referral Bonus Scheme:
The BHIM Referral Bonus Scheme is launched for individuals and will incentivise existing BHIM users for bringing new users on the BHIM platform and encouraging the new users to do transactions with others using BHIM or by referring new users on BHIM. Hence, the bonus will be paid to both the referrer and the new user of BHIM (referee), cited the Indian government website.
The referral will be considered successful only after three unique successful financial transactions have been completed by the new user.
On completion of minimum three unique successful transactions totalling only Rs 50 to any three unique users (either to customers or to merchants), the referrer and the referee will be notified about the bonus amount via notification in BHIM App.
The referrer will get Rs 10 per successful referral, while the new users will get Rs 25 for downloading and transacting from BHIM App.
BHIM Merchant Cashback Scheme:
The scheme is launched for merchants and has two objectives-increasing the number of merchants registered on BHIM and increasing the number of merchant payment transactions using BHIM.
The scheme incentivises not just one-time adoption of BHIM by merchants, but will also encourage transactions via BHIM mode (either QR code or VPA or Mobile number or “Pay to Aadhaar”).
The cashback to the merchant can be up to Rs 300 per month, with each merchant eligible to win up to Rs 1,800 in six months. (Images- Navbharat Times)