New Delhi: With launchtoday, not only your thumb will become uour bank, but you will be earning money also. This because of the announcement in the recent Budget that guarantees you cash for using the government launched payment portal BHIM.
The government will launch two new schemes to promote the use of the BHIM app. One will be referral payments for individuals, and the other will cashback for merchants who accept payments from BHIM.
The budget announcement also puts a significant push on the idea of boosting digital payments in India, one of the major area the government has focus on.
BHIM was recently integrated with UID and now allows payments using Aadhaar number. The Unified Payments Interface (UPI)-based app will get biometric-based Aadhaar Pay option which is yet to roll out. It is expected to launch in the coming weeks.