Existing, as well as new users of Bharat Interface for Money (BHIM) App, can avail the new cashback scheme offered by the government.
BHIM App is a mobile payments app launched by Prime Minister Narendra Modi in 2016 and developed by National Payments Corporation of India (NPCI) and is based on UPI.
Also Read: What is UPI?
The cashback scheme is applicable for customers as well as merchants. The customers can get up to Rs 750 cashback per month while the merchants get up to Rs 1,000.
New users can get a cashback of Rs 51 on making their first transaction. You can download the app using your registered mobile number and link their bank accounts. On sending Re 1 or more, you will get Rs 51 in return.
You can also get a cashback of Rs 25 on unique transactions. To avail this, the minimum amount of the transaction has to be Rs 100. Also, the maximum cashback for unique transactions will be Rs 500 per month.
BHIM app users stand a chance to earn more cashback points on more number of transactions. For example, if you perform 25 to 50 transactions, your incentive would be Rs 100, while 50 to 100 transactions will fetch you Rs 200 cashback.
For merchants, BHIM users can avail 10% cashback for a transaction value higher than Rs 50. The number of credit transactions has to be more than 10 and the transaction value should be over Rs 250.