The Central Government has extended the Bharat Interface for Money (BHIM) cash back scheme for merchants till March.
The scheme offers incentives of up to Rs 1,000 to the merchants for accepting payments via BHIM app.
“The BHIM cash back scheme for merchants will be operational till March 31, 2018,” said Ministry of Electronics and IT.
Prime Minister Narendra Modi launched this scheme on April 14 for a tenure of six months
In a bid to promote cashless payments through the BHIM app, Prime Minister Narendra Modi launched this scheme on April 14 for a tenure of six months.
As per the scheme, a merchant is eligible to get a cash back of Rs 50 for 20-50 transaction, Rs 2 for every transaction thereafter till Rs 950. The monthly limit set for BHIM cash back scheme is Rs 1,000.
For availing the benefits of this scheme every merchant has to perform at least 20 transactions that have been accepted by the merchant during the month from unique users of the BHIM with each amounting to minimum of Rs 25.
