In the Union Budget 2017 one of the best announcement for you is that now you ll be getting cashback, that too on using the government launched payment portal BHIM.
The government will launch two new scheme to promote the use of the BHIM app. One will be referral payments for individuals, and the other will cashback for merchants who accept payments from BHIM.
The budget announcement also puts a significant push on the idea of boosting digital payments in India, one of the major area the government has focus on.
Earlier President Pranab Mukherjee’s official Twitter handled had posted that BHIM has become one of the most popular mobile app-based payment mechanisms in the country. The Finance Minister also announced that a Merchant version of Aadhaar-enabled payments will be launched shortly. The government has also promised an update to the BHIM app as well in order to boost usage.
BHIM was recently integrated with UID and now allows payments using Aadhaar number. The Unified Payments Interface (UPI)-based app will get biometric-based Aadhaar Pay option which is yet to roll out. It is expected to launch in the coming weeks.