Mukesh Ambani owned, Reliance Jio Infocomm has launched its digital wallet JioMoney Wallet.
The wallet was till now being used only within the Reliance group for four months with the purpose of testing, and now it can be used by the public and is available both for Android and iOS users.
Customers can use JioMoney’s digital wallet, a Jio Money card or any other credit/debit card directly from the wallet to pay merchant seamlessly and instantly. JioMoney digital wallet also gives consumers the option of opening a Digital Bank Account or linking their existing account.
Jio has signed up more than 50,000 online merchants already for the wallet service, and could soon start supporting transactions on online marketplaces such as Flipkart, Amazon, and Snapdeal, a person familiar with the matter said. JioMoney will also be accepted at thousands of offline stores across India.
JioMoney, available on Google Play Store and Apple App Store, is the second application from Reliance Jio to go live after messaging app Jio Chat.
The service will enable customers to make bill payments, mobile recharges for Airtel, Vodafone, Idea, BSNL, Unior, Tata Docomo, MTNL among other operators. and insurance premium payments, as well as do online shopping. JioMoney Wallet can be used to make DTH payments to Big TV, DishTV, Airtel DTH, Tata Sky, Videocon DTH and Sun Direct .It also allows users to send and receive money to and from family and friends.
“This is the preview of our services which we are extending to a wider set of users. This is with the intent to test and learn in order to constantly improve customer experience,” a Reliance spokesperson said, confirming the launch.
The wallet service, which allows consumers to use barcode scan to pay at physical stores, will offer deals, coupons and cashback directly to customers on their mobile phone from local merchants.
JioMoney is powered by 4G small cell technology and is said to be platform-independent.
In June 2015, Reliance Industries Chairman Mukesh Ambani said JioMoney would play a crucial role in digitisation of payments in India by offering a platform for ubiquitous, affordable and secure digital payments. “It is the ideal solution for even our smallest merchants, such as kiranas, restaurants, and taxi drivers,” he had said.
The JioMoney Wallet service will give Jio access to the Rs.350 crore and growing mobile wallet market in India.