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INCENTIVIZING DIGITAL
PAYMENTS
Lucky Grahak Yojana
&
Digi-धन Vyapar Yojana
www.simpletaxindia.net
98
85 86
55
68
38
43
14
India Brazil Japan USA
Usage of Cash in Consumer Payments
% as volume % as value
Only 5% of
PCE in India is
Digital
Large Informal
Economy
Low Taxation
Base
1 Billion+
Mobile
Connections
371+ Million
Smartphones
25 Crore+ Jan
Dhan
Accounts
Opened
Current Scenario
www.simpletaxindia.net
Drive Against Corruption and Black Money
25 crore Jan Dhan Accounts
Statutory Status to Aadhar
Introduction of RuPay Cards
Income Declaration Scheme
Demonetization of High Value Notes
www.simpletaxindia.net
Incentives to Promote Digital Payment
• 1 lakh Villages to be provided with 2 PoS machines
• Regional Rural Banks & Cooperative Banks to issue 4.32 crore
“Rupay Kisan Cards”
• 10% discounts at fuel purchase, highway tolls, rail tickets and
insurance premiums
• No service tax on all digital transaction upto Rs. 2000
• PSBs advised to reduce PoS rentals to Rs. 100 per month
• Free accident insurance cover of up to Rs. 10 lakh for online rail
tickets
• No transaction fees for payments made through digital means by
Central Government Departments and PSUswww.simpletaxindia.net
Lucky Grahak Yojana
&
Digi-धन Vyapar Yojana
www.simpletaxindia.net
• Digital Transactions through RuPay Cards, UPI,
AEPS & USSD
• Transactions between ₹50- ₹3,000
• Separate incentives for Consumers and
Merchants
• Random draw of Digital Transaction Ids to
select awardees
• National Payment Corporation of India (NPCI)
Promoting
&
Rewarding
Digital
Payments
www.simpletaxindia.net
Mega
Awards
(14.04.17)
First Draw
(25.12.16)
Lucky Grahak Yojana
Digi-धन Vyapar Yojana
Transactions
Beginning
(08.11.16)
Daily : 15000 @ ₹1000 for 100 days
Weekly : 7000+ with max prize of 1 lakh
Weekly Awards :7000 with max award of ₹50,000
1. ₹ 1 Crore
2. ₹50 Lakh
3. ₹25 Lakh
1. ₹50 Lakh
2. ₹25 Lakh
3. ₹5 Lakh
for consumers
for merchants
Consumers
Merchants
www.simpletaxindia.net
•₹ 340 Crore
• C2M, C2G and all AEPS transactions
• Technical and Security Audit of the backend
software/ infra by NPCI
• Transactions using RuPay, USSD, UPI &
AEPS only
• Transactions above Rs 3000/- and below 50/-
• P2P and B2B transfers
• Transactions through Credit cards/ e wallets
Promoting
&
Rewarding
Digital
Payments
www.simpletaxindia.net

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incentive for digital payment

  • 1. INCENTIVIZING DIGITAL PAYMENTS Lucky Grahak Yojana & Digi-धन Vyapar Yojana www.simpletaxindia.net
  • 2. 98 85 86 55 68 38 43 14 India Brazil Japan USA Usage of Cash in Consumer Payments % as volume % as value Only 5% of PCE in India is Digital Large Informal Economy Low Taxation Base 1 Billion+ Mobile Connections 371+ Million Smartphones 25 Crore+ Jan Dhan Accounts Opened Current Scenario www.simpletaxindia.net
  • 3. Drive Against Corruption and Black Money 25 crore Jan Dhan Accounts Statutory Status to Aadhar Introduction of RuPay Cards Income Declaration Scheme Demonetization of High Value Notes www.simpletaxindia.net
  • 4. Incentives to Promote Digital Payment • 1 lakh Villages to be provided with 2 PoS machines • Regional Rural Banks & Cooperative Banks to issue 4.32 crore “Rupay Kisan Cards” • 10% discounts at fuel purchase, highway tolls, rail tickets and insurance premiums • No service tax on all digital transaction upto Rs. 2000 • PSBs advised to reduce PoS rentals to Rs. 100 per month • Free accident insurance cover of up to Rs. 10 lakh for online rail tickets • No transaction fees for payments made through digital means by Central Government Departments and PSUswww.simpletaxindia.net
  • 5. Lucky Grahak Yojana & Digi-धन Vyapar Yojana www.simpletaxindia.net
  • 6. • Digital Transactions through RuPay Cards, UPI, AEPS & USSD • Transactions between ₹50- ₹3,000 • Separate incentives for Consumers and Merchants • Random draw of Digital Transaction Ids to select awardees • National Payment Corporation of India (NPCI) Promoting & Rewarding Digital Payments www.simpletaxindia.net
  • 7. Mega Awards (14.04.17) First Draw (25.12.16) Lucky Grahak Yojana Digi-धन Vyapar Yojana Transactions Beginning (08.11.16) Daily : 15000 @ ₹1000 for 100 days Weekly : 7000+ with max prize of 1 lakh Weekly Awards :7000 with max award of ₹50,000 1. ₹ 1 Crore 2. ₹50 Lakh 3. ₹25 Lakh 1. ₹50 Lakh 2. ₹25 Lakh 3. ₹5 Lakh for consumers for merchants Consumers Merchants www.simpletaxindia.net
  • 8. •₹ 340 Crore • C2M, C2G and all AEPS transactions • Technical and Security Audit of the backend software/ infra by NPCI • Transactions using RuPay, USSD, UPI & AEPS only • Transactions above Rs 3000/- and below 50/- • P2P and B2B transfers • Transactions through Credit cards/ e wallets Promoting & Rewarding Digital Payments www.simpletaxindia.net