So, there is a good news for the mobile app users BHIM, as they will be rolling in the cash very soon. As the BHIM app is going to present the cash back scheme on the usage of the app. The cash back facility is already provided by the Paytm and Mobiwik apps, and users really appreciate this cash back scheme and this has helped them to increase the number of satisfied customers.
National Payments Corporation of India (NPCI) has proposed government to start the cash back scheme from the independence day, 15th August. As of now BHIM app users only get Rs. 10-25 cash back. That’s on the app recommendation only. For example, if you recommend this app to your friend you will receive Rs. 10 in return and if your friend further recommends to someone else then he or she will get Rs. 25.
BHIMs Independence Day gift!
As per the National Payments Corporation of India (NPCI) and CEO A. P. Hota, they have proposed the cash back offers to the Govt., and is right now waiting for their approval. The CEO is hopeful to receive government approval soon to launch the massive cash back scheme around the independence day to lure more customers into this app.
He shared his views on the news, “We have communicated to the government that the cash back incentives need to be increased so that more people will start using it. We are waiting for the approval from the government which is expected by August 15.”
BHIM app is nice but lacks lots of features that Paytm offers to the user’s and thus this is the initiative taken by the BHIM development team to improve its performance.
QR Code will be introduced to attract customers!
QR Code system is very popular and easy method launched by Paytm to ease out the transfer of cash by NPCI. On the footsteps of the Paytm BHIM app will also provide the QR code facility to their users. BHIM app is going for one major app update this independence day and many new features will be hoped to introduced in the app.
Talking with the CEO of BHIM app,”We are also in the final stages of launching version 1.4 of BHIM, which will make transactions smoother on the app. Among other updates, Bharat quick response (QR) code will be integrated into the app which should be another booster for increasing transactions on BHIM.”
Boom in the UPI payments.
With the impact of demonetization step of Indian government and with the increase in the awareness among the people about digitization, the UPI payment has increased multiple times in the Indian. Only in the last month, about 1 crore funds were transferred using the UPI payment method. This tells the story of growth and success in the UPI system in the past few months.
As per RBI data, usage of e-Wallets is decreasing, compared to UPI, and this is excellent news for NPCI. The numerous service providers such as Uber, WhatsApp, Hike, along with IRCTC has already transferred to the UPI based payment system. The market of the UPI based payment system is very hot nowadays and every company is planning to dive in this buzzing market.
But, the million dollars question here is that will BHIM along with the UPI is able to beat the Paytm. Now, that’s really interesting question and for the answer, we have to wait for the new BHIM strategy to over power Paytm.