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  1. NPCI to start ‘lucky draw’ scheme for cashless transactions

NPCI to start ‘lucky draw’ scheme for cashless transactions

To promote cashless transactions, Niti Aayog on Saturday suggested the National Payment Corporation of India (NPCI) to conceptualise a new scheme to reward winners of digital payments based on weekly and quarterly lucky draw of e-transaction numbers.

By: | New Delhi | Published: December 11, 2016 6:22 AM
While the contours of the schemes are being finalised, the focus would be on poor, lower middle class and small businesses opting for e-payments. All modes of digital payments —USSD, AEPS, UPI and RuPay Cards—would be eligible. (Reuters) While the contours of the schemes are being finalised, the focus would be on poor, lower middle class and small businesses opting for e-payments. All modes of digital payments —USSD, AEPS, UPI and RuPay Cards—would be eligible. (Reuters)

To promote cashless transactions, Niti Aayog on Saturday suggested the National Payment Corporation of India (NPCI) to conceptualise a new scheme to reward winners of digital payments based on weekly and quarterly lucky draw of e-transaction numbers.

While the contours of the schemes are being finalised, the focus would be on poor, lower middle class and small businesses opting for e-payments. All modes of digital payments —USSD, AEPS, UPI and RuPay Cards—would be eligible.

For merchants, transactions made on the point of sale (PoS) machines installed at their locations would be considered. It would be ensured that all those who have used digital payment systems after November 8 (the date of demonetisation of old Rs 500 and Rs 1,000 notes) would be eligible to participate in the scheme, the Niti Aayog said in a statement.

The scheme would also provide for recognition of state governments, their undertakings, districts, urban and rural local bodies who innovate for promoting electronic payment in their respective jurisdictions.

The National Payment Corporation of India (NPCI), a not-for-profit company, is an umbrella organisation for all retail payments system in India.

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