In order to further encourage the cashless transaction of money, Prime Minister Narendra Modi today announced an incentive program for BHIM-Aadhaar digital payment platform, saying for every successful referral, users can earn Rs 10. The scheme comes with incentives for merchants and customers cashback and referral bonus.

Reuters

Under the referral bonus scheme, both the existing user who refers BHIM and the new user who adopts BHIM would get a cash bonus credited directly to their account. Under the cashback scheme, the merchants will get a cash back on every transaction using BHIM.

Modi on Friday said the BHIM-Aadhaar digital payments platform can revolutionise the Indian economy by enabling each Indian to pay digitally using their biometric data on a smartphone. Launching the BHIM-Aadhar digital platform here, Modi said it would boost digital payments in a manner unprecedented anywhere in the world and would be a step towards a 'less-cash' economy and combat the black money menace.

Modi said the BHIM-Aadhaar platform would play the same role of empowering the common Indian as the Constitution of India, framed by Bhimrao R. Ambedkar whose 126th birth anniversary is being marked on Friday.

AFP

Earlier, PM formally launched the merchant interface of the Aadhaar-linked Bharat Interface for Money (BHIM) mobile application. This will enable Indian citizens to make digital payments using their biometric data such as their thumb imprint on a merchant's biometric-enabled device. He also distributed awards to winners of the Lucky Grahak Yojana and DigiDhan Vyapar Yojna. These schemes were launched last year to promote digital payments in India.