Digital India – In order to make BHIM App more advance and feature full, the former finance minister “Sh. Arun Jaitley ” has announced two new scheme named Bonus Scheme and Cash Back Scheme to promote BHIM App for the digital transaction and for reducing the use of cash payment in order to defeat the black money /corruption agenda. The two new schemes will benefit both individual users and merchants.
About Bonus Scheme and Cashback Scheme under BHIM
- The bonus scheme under BHIM will be for the individual users.
- The cashback scheme will be for the merchants.
While presenting the budget 2017-18 in Lok Sabha on Wednesday, Arun Jaitley said that about 1.25 crore users people have adopted the BHIM app. Government will launch two new schemes a referral bonus and a cash back scheme for merchants to promote and enhance the use and features of BHIM.
Arun Jaitley Announcement under BHIM app
- Bhim will have two more features bonus and cashback.
- Government will create a Payment regulatory board at RBI for Bhim this year.
- Government will launch soon the Aadhar-based payment system which would use one’s bio-metrics for the transactions.
- Aadhar-based payment system will be launched for those people who do not have a bank account, and who do not have the convenience of using debit cards, and other modes of transactions. This facility will be very helpful for rural areas people.
Recently added that the BHIM app is now enabled with UID for Aadhar-based transactions and the BHIM app users can make a digital transaction by entering their 12-digit Aadhaar.
With this inclusion, the app now provides three modes of payment, the remaining two being mobile number / virtual payment address (VPA) and bank account + IFSC code.
However, the BHIM app is based on United Payments Interface (UPI) and developed by National Payments Corporation of India (NPCI).
Now, this app is available for free on both Android and iOS platforms.
News Source: http://zeenews.india.com/economy/cash-back-scheme-to-popularise-bhim-app-arun-jaitley_1972514.html