New Delhi, Feb 10 : In order to encourage and strengthen the campaign of less cash economy in the country, the central government has announced the couple of new schemes to promote the interactive platform of BHIM app.
The two schemes, Referral Bonus Scheme and Cashback Scheme have been launched to cater the needs of individual user and merchants respectively.
Speaking on the occasion IT Minister Ravi Shankar Prasad said that central government is committed to provide speedy and accountable digital mode of payment getaways. He further added that various steps are being taken to develop a hassle free eco-system for better results.
Bharat Interface for Money is a Mobile App developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface. This app allow users to send or receive money to other UPI payment addresses or scanning QR code or account number with IFSC code or Mobile Money Identifier Code to users who do not have a UPI-based bank account.
BHIM allows users to check current balance in their bank accounts and to choose which bank account to use for conducting transactions, although only one can be active at any time.
Elaborating on the future plans Ravi Shankar Prasad said that a new merchant version of Aadhaar Enabled Payment System ‘Aadhaar Pay ’will be launched for those who do not have debit cards, mobile wallets and mobile phones.