Cash prize of Rs 1 cr: Lucky draws on cards to boost digital payments

Next time  you pay digitally, you might have a chance to win a weekly and quarterly lucky draw. After announcing various sops for payments through plastic money, e-wallets, the  government will now offer lucky draws to promote online payments.  

Though it has not disclosed the amount of prizes, the  expenditure would be incurred through a financial inclusion fund, sources said. Around Rs 125 crore a year would be incurred on these prizes, they said. 

All consumers and merchants using digital payments will be eligible for the draws, a release by NITI Aayog said. 

The contours of the schemes are being finalised, but the digital payments made post-November 8 would qualify for quarterly draws . Draws will be based on transaction IDs  generated  in that particular week, the release  said.  

All modes  of digital payments — aadhaar-enabled payment system, unified payment interface,  RuPay Cards will be eligible for these schemes.