Cashback & incentives: Govt to take cues from rivals to popularize BHIM

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The Indian Government is working to popularise their own payment app, the Bharat Interface for Mobile (BHIM), amidst a lot of heavy competition from private companies. The Government has pulled a few tricks from their competitions playbook and they are planning on investing Rs. 900 cr in cash backs and incentives for users of the BHIM app.

The BHIM app has been functional for almost a year now but has not received the popularity it should have with other major payment apps circulating in the market. The Govt. will also be popularizing the usage of QR codes to make up for the lack of PoS machines in the country. Furthermore, the Govt. will also bear the MDR (merchant discount rate) charges for transactions up to Rs. 2000 through Debit cards, BHIM or Aadhaar card related systems.

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