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The Bharat Interface for Money (BHIM) referral bonus scheme for consumers has started gaining momentum in the country, NPCI managing director and chief executive A P Hota said today.
The scheme was launched by Prime Minister Narendra Modi on April 14, 2017 on the occasion of commemorating the 126th birth anniversary of Dr Bhimrao Ambedkar.
As per the scheme, the referrer needs to encourage the referee to download the BHIM app and enter the referrer's mobile number as the referral code.
Both the referrer and referee will get a bonus provided the new user completes three successful transactions (minimum amount of Rs 50). The referrer will get Rs 10 per successful referral, while the new users will get Rs 25 for downloading and transacting from BHIM App.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)