After launching of Aadhaar based Bhim app by the Govt today with announcement of Re-feral bonus . Every one has question in mind how to Earn Referral Bonus from this app, So, here we will like to help you. As we know Bharat Interface for Money also known as BHIM app is India’s official UPI app. After the demonetization to make India go Digital with cashless our PM has launched this App some month Ago Now there are tons of apps available in market such as Paytm, Chillr, PhonePe, PayWiz but if you want to enjoy referral cashback then Bhim App is one of the exciting app for you.
The app is particularly aimed at helping people make payments digitally using their biometric data like their thumb imprint on a merchants’ biometric enabled device which could be smartphone having a biometric reader.According to NITI Aayog, as many as 27 major banks are now on board with 3 lakh merchants so that they can start accepting payments using BHIM Aadhaar.
Today the launch of BHIM-Aadhaar, the prime minister has announced two new incentive schemes,
- BHIM cashback and
- Referral bonus schemes.
How Does Bhim Refer & Earn Program Work?
- First of all, download & install bhim upi app in your android phone.
- Register or login with your mobile number. If you are new user, enter the number which is linked to your bank account and then use the OTP for registration.
- After entering 4 digit passcode, you will be taken to main app interface. Then note down you UPI address. If you have not yet assigned it, just goto My Profile > click on 3 dots at top right corner > settings > scroll down and at the bottom of page, there will be an option to edit your VPA.
- Now head over to profile and you will see a barcode there. Click on share button and send it to your friends.
- Ask your friends to download bhim app through your link & register an account using mobile number.
- When he completes his 3 transactions through BHIM (worth Rs 50 each or more), you will get Rs 10 cashback as a reward. Not just that, your friend will also receive Rs 25 referral bonus for completing the transactions.
- There is no limit on referral earnings and the great part is, you can transfer your credits directly into bank account. It just takes 4-5 seconds for the amount to reflect in your bank.
- Merchants will get Rs 25 cashback per every invite.
How to Check Referral Rewards?
- Simply open the app and select ‘transactions’ option. Then tap on the top right corner and click on ‘rewards’ tab. That it. Now it will show you the history of all referral credits.
- Note : This refer and earn scheme is in beta mode. Complete terms & conditions of the offer are not yet known but we will update them here as soon as we get the further details.
Here are the key features of these two new schemes
BHIM Referral Bonus Scheme (for individuals)
- The Referral Bonus scheme will incentivise existing BHIM users for bringing new users on the BHIM platform and encouraging the new users to do transactions with others using BHIM or by referring new users on BHIM. Hence, the bonus will be paid to both the referrer and the new user of BHIM (referee).
- The referral will be considered successful only after 3 unique successful financial transactions have been completed by the new user.
- On completion of minimum 3 unique successful transactions totalling only Rs 50 to any 3 unique users (either to customers or to merchants), the referrer and the referee will be notified about the bonus amount via notification in BHIM app. The referrer will get Rs 10 per successful referral, while the new users will get Rs 25 for downloading and transacting from BHIM App.
- Any Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchants’ biometric enabled device which could be smart phone having a biometric reader.
- Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform.
- Already, 27 major banks are now on board with 7.15 lakh merchants, so that they can start accepting payments using BHIM Aadhaar.
For more details watch this videoBHIM Cashback scheme for Merchants
Key objectives of the BHIM Cashback Scheme are
- Increasing the number of merchants registered on BHIM
- Increasing the number of merchant payment transactions using BHIM
- The scheme incentivises not just one-time adoption of BHIM by merchants, but will also encourage transactions via BHIM mode (either QR code or VPA or Mobile number or “Pay to Aadhaar”). The cashback to the merchant can be up to Rs 300 per month, with each merchant eligible to win up to Rs 1,800 in 6 months.
- 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. Both schemes are to be administered by MEITY and implemented by NPCI.
- The government has set aside Rs 495 crore towards this scheme, which will be disbursed over a period of six months.
For more details watch this video