- You can earn earn a cashback of Rs. 25 for every unique transaction
- For more than 25 transactions, the incentive would be Rs 100
- BHIM or Bharat Interface for Money enables wire transfer of money
As you download the Bhim app that follows the UPI system, you stand to receive Rs 51 cashback on successfully completing first financial transaction for Bhim app users.
A. Besides this, you can earn earn a cashback of Rs 25 for every unique transaction with a minimum transaction value of Rs 100. The maximum cashback through this channel is Rs 500 per month.
The Bhim App users also stand to earn more cashback for the more number of transations.
B. For the number of transactions that are more than 25 but fewer than 50, the incentive would amount to Rs 100.
In case the number of transactions are over 50 but fewer than 100, the incentive would be Rs 200. However, one can earn as much as Rs 250 cashback for more than 100 transactions every month.
The cashbacks accrued in A and B can bring the total cashback to Rs 750 per month. Not only customers, the Bhim app even offers cashback to merchants also.
Merchant: The Bhim user user will be eligible for the cashback of 10% of the transaxtion value with an upper cap of Rs 50 per transaction. To be able to earn the cashbacks, the minimum number of credit transactions should be more than 10 and the minimum transaction value should be over Rs 25.
Mobile app BHIM or Bharat Interface for Money enables wire transfer of money via the Unified Payment Interface (UPI) interface. Developed by the National Payments Corporation of India (NPCI), BHIM was launched on December 30, 2016. Using the BHIM app, a user can make payments using details such has mobile number, name and Aadhaar number, without having to share own bank account details.