The government has issued a cashback offer, such as PTM, Google Tej and Phonepe, in the case of private Payment AAPs, which are not well-known in the Bim Aap, which was released a year and a half ago.
Customers will be encouraged by cashback and traders from Ambedkar’s birthday on April 14. The total amount of Rs 900 crore has been taken by the central government. The government has initiated steps to boost cash consumption by promoting the Unified Payment Interface (UPI) technology.
Under this, incentives given to money-lenders using Bhim AAP have been increased from 25% to 0.50%. Furthermore, consumers are the first 100 rupees in this AAP. When transaction is Rs 51 Cashback will be available. The next 20 businesses will receive cashback of Rs 25 each. For the next 25 transactions, the total amount of Rs. And for the next 50 deals, the total amount of Rs. Cashback will be available.
In December 2016, the government released the Bhim AAP after the invalidation of the note. Bhim AAP, which has over 40 per cent of the total UPA-based transactions in the country, has fallen to 5.75 per cent today. Private Payment Aaps such as Google Tej, Phonepe, PTM etc have grown into business using the same UPI.