Now Reliance Jio allows UPI payments via its MyJio app. India's largest telecom operator has rolled out a facility for select users to pay UPIs. This feature is available in the MyJio app, and can be obtained by updating.
With this, Jio becomes the first telecom operator to make UPI payments easier via its platform. The feature has been launched on the MyJio app instead of its wallet app, JioMoney.
To access the jio upi feature, RJio users will need to create a new UPI ID from the app, which ends in' @Jio' after completing the UPI transaction sign-up process, the report said. Users can then enter their bank account number, mobile number and debit card details to generate an UPI pin and start making payments via UPI.
As of now, the new UPI feature has no specific name and is just a part of the MyJio app. For now, it has been rolled out to select users, and will also soon be available to other users. The UPI feature will also help clients make payments to recharge their RJio subscription.
Earlier, RJio had been in talks with ICICI Bank, Axis Bank and SBI to facilitate this feature via its platform.
Expanding the digital consumer base Following its ties with SBI back in 2018 and the launch of its JioMoney wallet app, the introduction of UPI payments will further enhance RJio's hold over the digital payments niche.
According to the National Payment Corporation of India (NPCI), more than 1.3 billion transactions worth more than 2 trillion were conducted through UPI in December 2019.
RJio already has a huge base of subscribers to pitch the platform to. According to a recent report from India's Telecom Regulatory Authority (TRAI), as of November 2019, RJio is currently the largest telecom operator on the Indian market, with 36.9 crore mobile subscribers.
The latest move will help RJio gain a competitive edge over popular payment banks and UPI platforms like Google Pay, Flipkart owned Phone Pe and Paytm. In August 2019, Google Pay represented 59.75 percent of all UPI transactions.
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