New Delhi, August 8: On the occasion of the country's 70th Independence Day, government's digital transaction app BHIM will reportedly be offering more cash back to users. The new version of BHIM App 1.4 would be released on August 15th, powered with QR code platform, and new cashback offers.
Currently, if a person recommends BHIM to someone else, gets a bonus of Rs 10 and the other person gets Rs 25. But now, it seems that BHIM App will roll out cashbacks on using their app for payments, incentives for using the app to pay to merchants and more.
Last month, UPI based transactions breached 1 crore mark, as the usage is witnessing faster growth, compared to e-Wallets. As per RBI data, usage of e-Wallets is decreasing, compared to UPI, and this is excellent news for NPCI.