- 0.1 The BHIM app has become more rewarding. The government is giving attractive cash back offers to the BHIM users. The cashback of BHIM is similar to the Google Tez, Phonepe and Paytm. In fact, these payment apps have snatched a lot of BHIM’s market share riding on the cashback schemes. Now BHIM has also come up with a more attractive scheme. The scheme has started since 1 April 2018.
- 1 The BHIM App Cashback Scheme For Users
The BHIM App Cashback Scheme For Usersnew BHIM cashback scheme is more lucrative and rewarding. In this scheme, every new BHIM user would be able to earn money.
First Transaction offer for New BHIM App Userli>A new BHIM app user would get the cashback of ₹51.
rnment would also give you reward for using BHIM UPI payment system.
Unique BHIM UPI Transactions Cashback
Total BHIM UPI Transactions Rewardsfor using BHIM UPI system for payments. There is no condition of the unique transactions.
Payment of Cashbackk immediately after the transaction. Rather, It may take up to 40 days. The cashback is credited to your bank account befthe ore 10th day of the next month.
The central government is promoting the cashless transactions in various ways. Last year, it has started to give the cashback scheme for the BHIM users and merchants. But, the Google Tez and Paytm came with a better scheme. Due to this most of the new customer has adopted the Tez and Paytm. In the August 2017, the BHIM has a market share of 40.5%, but in the February 2018, it came down to 5.75%.
Meanwhile, The government has waived the MDR (Merchant Discount rate) charges on transaction upto ₹2,000. This waiver is applicable for Debit cards, BHIM UPI and AEPS. This waiver would be available until 31 Dec 2019.