BHIM Merchant Incentive Scheme For 2018-19

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.

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.