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Introduction

DIGITAL BANKING DEPARTMENT

BHIM Aadhaar Pay was launched by government of India on 14th April, 2017 as a merchant based mobile application for accepting payments from customers. It is a mobile based application wherein a merchant receives payment from the customer after biometric authentication of customer is successful. The payment can be made against any goods or services availed by the customer from the merchant. Under this product, any customer availing goods or services from a merchant and having any bank account linked to his/her Aadhaar can make payments for the goods or services availed. The customer’s account is debited and merchant receives payment only after the successful authentication of customer’s biometrics from UIDAI.

BHIM Aadhaar Merchant Incentive Scheme

Merchant Incentive Scheme (maximum incentive up to Rs. 2000/- every month)

BHIM Aadhaar Pay App user who has declared himself/herself as Merchant and is receiving payments via BHIM Aadhaar app will be eligible for an Incentive of 0.5% of the transaction value with minimum incentive as Rs.2 and upper cap of Rs.50 per Transaction. Maximum transaction limit is Rs10, 000/- only.
The incentive scheme is valid till 31-03-2019.

 

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