Posted by New Delhi: If you do transactions through UPI, then you will get less discounts now. The government has withdrawn the scheme 8 months earlier. Through this, shopkeepers were getting an incentive of 1000 rupees for getting payment from the Unified Payments Interface (UPI). Up to 500 rupees cashback was received by customers so far from transferring from Bhima Apk, it has been reduced to 150 rupees.
Recently, there was an increase in transaction transactions through the UPI. It included transfer of money from the account to the account. In April this year the government had said that the cashback scheme given during the ban on bondage has been extended till March 2019. Under this, the customer is being given a reward of 25 rupees for 20 transfers in a month.
National Payments Corporation of India has issued a notification on July 3 and changed the scheme from 1 st date. According to banks, due to this, there may be problems with customer service because many people are doing transactions due to incentives. Only the Bhim App users will be rewarded under the notification. This means that the user has to have a UPI ID for the transaction. Earlier users with bank app were also benefiting from this.
Apart from government cashback, PetiM, Google Tej and PhonePay are also rewarding customers. 80 per cent of these three companies occupy the UPA Transaction. There were 246 million UPA transactions in June 2018. There was an increase of 30 percent compared to May. The total value of these transactions was Rs 40,834 crores. NPCI will soon be launching the UPI 2.0 new version of the UPA. Soon, Whatsapp is also going to launch a massive payment service. This will also increase the cost of the UPI transaction.
Source:- timesnownews
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