How to Earn Money by Referring UPI Apps and Finance Services

How to Earn Money by Referring UPI Apps and Finance Services in India (2025)

In today's digitally-driven economy, earning a little extra cash or even building a steady side income is more accessible than ever. One popular and legitimate method is through referral programs offered by UPI apps and various financial services. By simply sharing a unique link or code, you can help others discover useful financial tools while earning rewards yourself. Here’s a comprehensive guide on how to make money by referring UPI apps and finance services in India in 2025.

Understanding Referral Programs in the Financial Sector

Referral programs are marketing strategies where companies reward existing customers for bringing in new ones. In the finance sector, this typically means:

• UPI Apps: Rewards for successful sign-ups and first transactions.
• Loan Services: Commissions for leads that result in loan disbursals.
• Demat & Trading Accounts: Fixed payouts for new account openings or a percentage of brokerage.
• Investment Platforms: Bonuses for new users who invest a certain amount.
• Credit Cards: Rewards upon approval and activation of the referred card.

Earning Money with UPI App Referrals

UPI (Unified Payments Interface) apps have revolutionized digital payments in India. Most popular UPI apps run "Refer & Earn" programs to expand their user base. Here’s how you can leverage them:

1. Google Pay (GPay)

GPay has consistently offered attractive referral bonuses.

• How it works: Share your unique referral link. When your friend signs up using your link and makes their first successful UPI transaction (often ₹1 or more), both you and your friend receive cashback.
• Rewards: Rewards vary but have typically been in the range of ₹101 to ₹201 for the referrer and a smaller amount for the referee on the first transaction. Some programs also offer weekly bonus quests for continued engagement.
• Tips: Focus on introducing GPay to new users who haven't used it before. Guide them through their first transaction.

2. PhonePe

PhonePe is another major player with an active referral program.

• How it works: Similar to GPay, you share a link. Rewards are credited once your friend links their bank account and completes their first UPI transaction.
• Rewards: Typically offers cashback ranging from ₹50 to ₹100 per successful referral.
• Tips: Highlight PhonePe's diverse features like bill payments, recharges, and investment options to encourage sustained usage.

3. Paytm

Paytm, with its extensive ecosystem, also incentivizes new user acquisition.

• How it works: Refer new users to download the app and complete their first UPI transaction.
• Rewards: Cashback rewards (e.g., ₹33 to ₹100) are common. They often have tiered bonuses for multiple successful referrals within a month.
• Tips: Emphasize Paytm's merchant payment options and wallet integration.

4. Amazon Pay UPI

Integrated within the Amazon app, Amazon Pay UPI also offers referral benefits.

• How it works: Refer friends to use Amazon Pay UPI for their first transaction.
• Rewards: Often provides cashback or discounts on Amazon purchases for both referrer and referee.
• Tips: Target Amazon shoppers who aren't yet using Amazon Pay UPI.

Earning Money by Referring Finance Services

Beyond UPI apps, the financial services sector offers more substantial earning opportunities through affiliate and referral programs for various products.

1. Demat & Trading Accounts (e.g., Upstox, Zerodha, Groww, SBI Securities, SMC Global)

With the surge in stock market participation, referring Demat accounts has become highly lucrative.

• How it works: Register as a referrer/partner with brokerage firms. Share your unique referral link. You earn when the referred person successfully opens and activates their Demat and trading account, and sometimes when they make their first trade.
• Rewards: Can range from ₹200 to ₹1000+ per successful referral. Some brokers also offer a percentage of the brokerage generated by your referrals over time.
• Platforms: Upstox, Zerodha (via their partner program), Groww, Angel One, 5Paisa, SBI Securities, SMC Global.
• Tips: Focus on individuals interested in investing. Provide guidance on how to open an account and even basic investing tips.

2. Loan Referral Programs (e.g., Tata Capital Loan Mitra, India Post Payments Bank, BharatLoan)

Several banks and NBFCs run programs where you can refer leads for personal loans, home loans, business loans, etc.

• How it works: Register as a "Loan Mitra" or referral partner. You submit leads (contact details of potential borrowers). You earn a commission if your referred lead successfully takes a loan.
• Rewards: Payouts can be substantial, often a percentage of the loan amount or a fixed fee per disbursal (e.g., ₹750 to ₹1000+ per disbursal, or up to 3% of the disbursal amount). Some programs offer Cost Per Lead (CPL) or Cost Per Application (CPA) payouts.
• Platforms: Tata Capital, India Post Payments Bank (Loan Referral Services), BharatLoan, many other NBFCs and direct lending platforms.
• Tips: This requires a network of people actively looking for loans. Ensure your referrals meet the basic eligibility criteria to increase your success rate.

3. Investment Platforms (e.g., Mutual Fund Apps, P2P Lending Platforms)

As investment awareness grows, referring to these platforms can also be profitable.

• How it works: Refer new users who sign up and make their first investment (often above a minimum threshold).
• Rewards: Cashback, bonus points, or a small fixed amount.
• Tips: Emphasize the benefits of systematic investing and the platform's ease of use.

4. Credit Card Referral Programs

Many banks offer rewards for referring friends and family for credit cards.

• How it works: Share your unique referral code/link. You and your friend get a bonus (cashback, reward points, or gift vouchers) upon successful approval and activation of the credit card.
• Rewards: Can range from ₹500 to ₹2000 or more, depending on the card type and bank.
• Tips: Refer individuals with good credit scores and a clear need for a credit card to ensure approval.

General Tips to Maximize Your Earnings

1. Understand the Program: Read the terms and conditions carefully. Know the exact actions required for a successful referral (e.g., just sign up, first transaction, account funding, loan disbursal).
2. Target Audience: Share links with people who genuinely need or could benefit from the service. Don't spam.
3. Personal Experience: Use the apps and services yourself. Your personal positive experience makes your recommendation more credible.
4. Be Helpful: Guide your referrals through the sign-up process and their first transaction. Answer their questions.
5. Leverage Your Network: Share with friends, family, colleagues, and relevant online communities (where allowed and appropriate).
6. Track Your Referrals: Most platforms provide a dashboard to track your referral status and earnings.
7. Stay Updated: Referral programs change frequently. Keep an eye on new offers and increased bonuses.
8. Disclosure: Always disclose that you will receive a reward for the referral. Transparency builds trust.

Is Referring UPI Apps and Finance Services Legal in India?

Yes, referring UPI apps and finance services through legitimate referral programs is completely legal in India. These programs are widely used by regulated entities (banks, NBFCs, brokerages) as a form of marketing to acquire new customers. However, always ensure you are referring through official channels and not engaging in any fraudulent activities or misrepresentation.

Conclusion

Earning money through referrals of UPI apps and finance services presents a fantastic opportunity for passive income in India. Whether you're looking for small cashbacks from daily payment apps or more substantial commissions from loan and investment services, the key lies in understanding the programs, genuinely helping others, and leveraging your network responsibly. Start exploring these opportunities today and turn your digital connections into tangible rewards!

Frequently Asked Questions (FAQs)

Q1: How much money can I typically earn from referring UPI apps?

A1: For UPI apps like Google Pay or PhonePe, you can typically earn ₹50 to ₹200 per successful referral, often credited as cashback on the referee's first transaction. Some apps may have monthly earning caps.

Q2: Are there any limits on how many people I can refer?

A2: Yes, most referral programs, especially for UPI apps, have limits on the total number of referrals or the maximum amount you can earn in a financial year (e.g., Google Pay allows up to 100 referral rewards or ₹9,000 in a financial year). Loan and Demat account programs might have higher or no strict limits, but conversion rates vary.

Q3: Do I need to be an existing customer to refer a finance service?

A3: For most UPI apps and Demat accounts, yes, you need to be an existing user with an active account to get your referral link. For loan referral programs, you might need to register as a "partner" or "mitra" which doesn't necessarily require you to be a customer of their loan products.

Q4: What's the difference between a referral program and affiliate marketing in finance?

A4: Referral programs are typically for existing customers to refer friends/family, often with fixed rewards. Affiliate marketing is broader, often involving dedicated platforms and higher commissions for promoting financial products to a wider audience (e.g., through websites, blogs, social media) and is performance-based. Many "referral programs" for loan/Demat accounts can also be seen as a form of affiliate marketing.

Q5: What should I avoid when referring financial products?

A5: Avoid spamming people, making false promises, or guaranteeing loan approvals. Never ask for money upfront from your referrals. Always ensure transparency by disclosing that you will earn a reward. Stick to official referral links/codes and legitimate platforms.

Q6: How do I get paid for my referrals?

A6: For UPI apps, rewards are usually credited directly as cashback to your linked bank account or app wallet. For finance services (loans, Demat), payments are typically made to your bank account via NEFT/RTGS after successful disbursal/account opening and verification, as per the program's terms.