Rs 495 crore scheme for BHIM consumer referrals is gaining momentum: NPCI

During the April 14 launch of the BHIMAadhaar app for merchants, and the final winners of the Lucky Grahak Yojana and Digi Dhan Vyapar Yojana lucky draw schemes, Prime Minister Narendra Modi also launched a referral scheme to encourage the adoption of the BHIM app by citizens in India. According to the scheme, Rs 395 crores is being given to both referrer and referee users of the BHIM app, between 14 April, 2017 and 14 October, 2017. The scheme is now gaining momentum, according to the NPCI.

A.P. Hota, MD & CEO, NPCI said, "This scheme aims at digitally literate people spreading the use of digital payments and getting rewarded. Building a less-cash society can happen only when there is public participation in the project." The scheme is administered by the Ministry of Electronics and Information Technology (MeitY).

On installing the app, first time users are presented with a prompt to enter a referral code. Users can skip this step, if they do not want to set up a referrer. Once the user completes three transactions, totaling at least Rs 50, both the refferer and the referee get paid. The referrer gets paid Rs 10, while the referee gets paid Rs 25, which is a win-win situation for both. No reference is required from the second transaction onwards.

Published Date: May 17, 2017 03:13 pm | Updated Date: May 17, 2017 03:13 pm