PM launches incentive scheme for BHIM

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Prime Minister Narendra Modi today announced the incentive program for BHIM-Aadhaar digital in which users can earn Rs.10.

PM launches incentive scheme for BHIM

Under the new program, if you help at least 3 people install and understand BHIM app, then you will get Rs. 10 from government and those who install BHIM app for a business transaction will get Rs. 25 in their bank accounts.

The new scheme comes with incentives for merchants and customers cash back and referral bonus. Under the Referral bonus scheme, both the existing user who refers BHIM and the new user who adopts BHIM would get a cash bonus credited directly to their account and under the Cashback scheme.

The merchants will get a cash back on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI.

SEE ALSO: PM Narendra Modi launches BHIM-Aadhaar digital payment platform

Earlier, Modi has launched BHIM Aadhaar interface - a biometric-based payment system, which will allow users to make payments using just their fingerprint.

"Any Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchants' biometric-enabled device which could be smartphone having a biometric reader," NITI Aayog said. Adding that any citizen without access to smartphones, the internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform.

"Already, 27 major banks are now on board with 7.15 lakh merchants so that they can start accepting payments using BHIM Aadhaar," the statement added further.

BHIM App has already registered 1.9 crore downloads in just four months since its launch in December 2016.

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