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Referral Bonus And Cash-Back Scheme to Boost BHIM Adoption

Launched on December 30, the Unified Payments Interface (UPI)-based BHIM app is currently available on Google's Play Store.

IANS

Updated:February 1, 2017, 3:35 PM IST
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Referral Bonus And Cash-Back Scheme to Boost BHIM Adoption
BHIM App. Representative Image. (Image: News18.com)
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Finance Minister Arun Jaitley on Wednesday announced two new schemes to boost the adoption of BHIM (Bharat Interface for Money) digital payment app.

"Nearly 125 lakh people have adopted the BHIM app. Government will launch two new schemes -- a referral bonus for consumers and a cash-back scheme for merchants -- to promote the use of BHIM," Jaitley said while presenting the Union Budget 2017-18 in the Lok Sabha.

Launched on December 30, the Unified Payments Interface (UPI)-based BHIM app is currently available on Google's Play Store.

"From setting up a separate payments regulatory body to providing cash-backs to BHIM merchants are good initiatives to further boost the digital payments landscape that will lead to financial inclusion in the country," Saket Modi, CEO and co-founder of Lucideus, the IT risk assessment company that provides security for BHIM, told IANS.

"Setting up the Indian Computer Emergency Response Team (CERT-In) for the financial sector was a need of the hour and we are happy to see it being addressed by the Finance Minister. We now hope the execution happens in a timely and efficient manner for all the mentioned initiatives," Modi added.

Also read: India Uniquely Positioned to Benefit From Cloud in 2017: Oracle
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Sarthak Dogra
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