Government to soon launch schemes to promote BHIM app

NEW DELHI: The government will launch within a month two schemes -- the Referral Bonus Scheme for individuals and Cash-back Scheme for merchants -- to promote the indigenous digital payments app BHIM.

"We have completed inter-ministerial discussion. Cashback schemes announced in the Budget 2017-18 would be implemented in one month," Niti Aayog CEO Amitabh Kant said at a press meet.

The Bharat Interface for Money (BHIM) app was launched on the iOS platform earlier this month. It is also available on the more popular Android platform.

"There has been over 17 million downloads of the BHIM app so far," Kant said.

Finance Minister Arun Jaitley in his Budget speech for 2017-18 had said, "Already there is evidence of increased digital transactions. The BHIM app has been launched. It will unleash the power of mobile phones for digital payments and financial inclusion."