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UPI Payments- Google Pay, Phonepe, Paytm, UPI PIN, UPI ID

All About Payments in India

BHIM Merchant Incentive Scheme For 2018-19

By Chandrakant Mishra | Published On April 16, 2018

In the year 2018-19, the UPI transaction would greater reward for the merchants. The Government has made the merchant incentive scheme more lucrative. Now, a merchant can earn up to ₹2000 by accepting payment through the UPI payment system. The incentive is for any UPI transaction as well as through the BHIM app. In the earlier Avatar of merchant cashback scheme, you could earn up to ₹1000.

BHIM Logo

Important Points of Merchant Cashback Scheme

There are two versions of this merchant cashback scheme. The first version is only for those merchants who are using BHIM app. While the second version for those merchants who are using UPI app of any bank.

Both the version would run simultaneously. Hence, a merchant who uses BHIM app would enjoy the double benefit. That is why a BHIM app merchant can earn up to ₹2000/month.

  • The new Merchant Cashback scheme Can reward you up to ₹2000.
  • The more you receive BHIM UPI Payments, the more money you would earn.
  • The incentive would be 10% of the transaction value.
  • You can get a maximum ₹50 incentive for a transaction.
  • The transaction of ₹25 and above would earn you the reward.
  • Only those merchants are eligible for this scheme who use BHIM UPI platform to accept payments.

Offer to those Merchants Who Use BHIM UPI

There are many apps which are using the UPI payment system. The merchants who use these UPI apps are eligible for this cashback scheme. But Apps should be either from the Bank or the BHIM app. The non-banking UPI apps such as TEZ, Phonepe do not qualify for this scheme.

  • The merchant would get 10% cashback for each UPI transaction.
  • The cashback from a single transaction is limited to ₹50.
  • Only the transaction of ₹25 and above is eligible for Reward.
  • A merchant can get maximum ₹1000 cashback from this scheme.
  • This limit of ₹1000 is applicable for a calendar month.

Incentives for Merchants who use BHIM APP

There is an extra benefit to the merchants who use BHIM app for receiving payments. The merchant should have declared himself a ‘Merchant’ in the BHIM app. The MCC (Merchant Category Code) of the merchant should be ‘0000’.

There is a feature in this regard.

  • The merchant would get 10% of the transaction value as cashback.
  • The maximum cashback per transaction would be ₹50.
  •  Minimum Transaction value for this cashback is ₹25.
  • The benefit to such merchants would start after the 10 transactions.
  • The transaction can be from the same sender.
  • A merchant can earn maximum ₹1000 in a calendar month. A calendar month starts on the 1st day and ends on last day of the month. So if you start taking payment on the 25 April, You can earn up to ₹1000 in just 6 days.

So, The government is giving you the two ways to earn extra bucks. Note, your earned cashback would be credited to your linked bank account. The credit of amount would take place on before 10th day of the next month. So you would get the cashback of April before the 10th May.

You should also know that you can also enjoy the BHIM cashback scheme for users along with this incentive. The government is also giving rewards to common BHIM users. This reward is given when you make a payment.

If you are the user of Tez, Phonepe or Paytm, don’t lose the heart as these apps have their own offers and rewards.

Filed Under: BHIM, Lucky Yojana

About Chandrakant Mishra

Chandrakant Mishra is the Founder-Editor of the upipayments.co.in and PlanMoneyTax.Com. He has written more than 600 articles on payments, tax, investment, insurance and saving. He has been associated with the CNBC Aawaz Business Channel as Assistant Editor.

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Reader Interactions

Comments

  1. Sushil kumar says

    August 16, 2018 at 2:43 PM

    Sir, mene bhim app se cash transfer kiya tha vo abhi pahucha nhi h vo pending me h sir please help me

  2. Sd says

    July 25, 2018 at 12:20 AM

    True payment proof

  3. Ramesh B Bhatia says

    July 11, 2018 at 8:26 PM

    We have recently started Travel 7 tour Services with IRCTC approval . Train, Hotel booking etc Utility payments of elect Bills, DTh, money transfer.
    Our concern is money transaction charges are very high (.5)@ what are your charges ? Banks are charging Rs.5/- upto one lac. RTGS/NEFT . They charge Rs.50 on Rs.50,000 transfer. even if you ask for refund of money on no successful transactions? # transfer # time of cancellation # refund @ so three time charges on one transaction? Plus no commision shred on Elect bill etc.

  4. Ravi Chauhan says

    June 29, 2018 at 8:24 AM

    Great offer

  5. hitesh says

    June 22, 2018 at 4:44 PM

    i have bhim app account now i m a merchant so can i make double benefit “suppose as user with sending money and accepting money with merchant offer

  6. Hitesh zodpe says

    June 16, 2018 at 6:26 PM

    I have bhim app in my mobile but doesn’t but doesn’t verify my mobile no. Before its verify .

  7. Sachin says

    June 15, 2018 at 12:49 PM

    I want to know that …can i get reward for both scheme of common user for doing payments or merchant to receive payments ???

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