Under the scheme, a merchant can get cashback of Rs 50 for 20-50 transaction, Rs 2 for every transaction thereafter till Rs 950. The monthly limit of BHIM cashback 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 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 wallets, users are not required to store money in the BHIM app.