BHIM Dena UPI users can earn incentive upto Rs. 750/- Cashback every month.
Incentive for transactions over BHIM Dena UPI will be paid separately for both unique transactions as well as total financial transactions (A+B)
A:- Incentive on Unique Financial Transactions for BHIM Dena UPI users
I.Receive Rs.25 Cashback for every unique transaction (VPA/UPI ID, Account Number, Mobile Number)
II.Minimum transaction value should be Rs. 100.
III.The incentive will be paid for maximum 20 unique transactions per calendar month thus maximum cashback of Rs. 500 per month.
B:- Incentive on Financial Transactions for BHIM Dena UPI users
Number of transactions per month
Incentive to the BHIM user
>=25 but less than 50 per month
Incentive of Rs.100/-per month
>=50 but less than 100 per month
Incentive of Rs.200/-per month
>=100 per month
Incentive of Rs.250/-per month
I.Only valid approved transactions from BHIM Dena UPI app of Bank or *99# will be considered for the scheme.
II.The “unique transaction” is the first financial transaction between any two BHIM-UPI users/VPA.
III.Incentive on transactions will be paid to the users whose account is debited for the “valid financial transactions”
IV.“Valid financial transactions”: Money transfer from one bank account to another bank account of amount greater than or equal to Rs. 1 and less than or equal to Rs. 100,000.
V.Incentive pay-out shall be done by 10th of every month for previous month.
BHIM Dena UPI Merchant can earn incentive upto Rs.1000/- Cashback every month
Scope of this scheme shall be limited to BHIM Dena UPI App users who have declared themselves as “I am a merchant” for receiving payments through BHIM Dena UPI
I. Cashback to the Merchant will be 10% of transaction value with an upper cap of incentive of Rs. 50 per transaction.
II.Minimum credit transactions per month to be done to start earning the cashback should be greater than or equal to 5 transactions
III.Minimum transaction value eligible for cashback is Rs. 25.
IV.Maximum cashback is Rs.1000/- per merchant per month
·It is a monthly scheme and calender month will be used for calculation of “month” under the scheme.
·Cashback will be credited to linked accounts of the eligible merchants on or before 10th day of the subsequent calender month.
·Merchant can earn incentive under cashback scheme for Merchants as well as BHIM Dena UPI cashback for customers. (The overlap of merchant and customer is acceptable).