Modi govt extends BHIM cash back offer for merchants till March 2018

To promote digital transaction, Narendra Modi government has extended the cash back scheme for merchants who accepts payment through the newly launched BHIM application till March 2018

Must Read

Why cybersecurity threats have increased during Covid-19 pandemic

Cybersecurity industry has never had more significant task to carry out than guarding strategic associations and businesses from digital assaults during the coronavirus pandemic

How to choose an effective DDoS mitigation plan

There are several flavours from which to choose when selecting an effective DDoS mitigation strategy. Most enterprises opt for one of the cloud protection flavours (always-on or on-demand)

Ensuring brand protection against cyber attacks

Companies across all industries and sizes must make sure that they are protected and safeguarded against all forms of today

To promote digital transactions, Narendra Modi government has extended the cash back scheme for merchants who accepts payment through the newly launched BHIM application till March 2018. The BHIM cash back scheme was launched by Prime Minister on April 14 for a period of six months for promoting cashless payments through the . However, now the cash back offer has been extended till March 31, 2018.

“The BHIM cash back scheme for merchants will be operational till March 31, 2018,” a note by Ministry of Electronics and IT said. The scheme was launched by Prime Minister Narendra Modi on April 14 for a period of six months for promoting cashless payments through the BHIM app.

Under the scheme, a merchant can get cash back of Rs 50 for 20-50 transaction, Rs 2 for every transaction thereafter till Rs 950. The monthly limit of BHIM cash back scheme is Rs 1,000. The condition for availing benefit is that at least 20 transactions should have been accepted by the merchant during the month from unique users of the BHIM (Bharat Interface for Money) with each amounting to minimum of Rs 25.

The app user can make transaction by using UPI address, ISFC code and bank account of the recipient and by scanning QR code that can be generated in the app itself. Unlike mobile wallet, users are not required to store money in the BHIM app.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by techobserver.in. Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Related Articles