NPCI MD & CEO A P Hota told TOI the proposed approval of increased cashback incentives by the government for Bhim usage is expected to come into effect by August 15. "We have communicated to the government that the cashback incentives need to be increased so that more people will start using it. The payments app recently crossed a user base of 16 million with 4 million active customers at the end of June. "We are also in the final stages of launching version 1.4 of Bhim, which will make transactions smoother on the app. Among other updates, Bharat quick response (QR) code will be integrated into the app which should be another booster for increasing transactions on Bhim," Hota said.

Source: Times of India August 07, 2017 01:24 UTC