Reliance Jio Infocomm, subsidiary of Reliance Industries Ltd, will be launching a new Digital wallet service called Jio Money by mid-December. While the company has not made any official announcements, a report in Times of India cites unnamed sources for this development.
However, the launch of Jio Money wallet was on cards, as they recently showcased the service recently at eIndia Summit held in Mumbai. Interestingly, Jio Money service will be powered by 4G small cell technology and will be platform independent.
Digital Wallet space in India has heated up over past few months – Paytm, the leader in this mobile wallet space already has over 100 million wallet users. Freecharge, which was acquired by Snapdeal, launched FreeCharge Digital Wallet in September of this year. They claim to have garnered over 10 million users in first month of operation. MobiKwik, another Digital wallet service claims to have over 25 million users.
Apart from these India has many other players in this space including Oxigen, Citrus Pay, PayuMoney, ICICI Pockets, HDFC Chillr among others.
With Reliance Jio Money coming into the mix, it will be interesting to see the strategies they adopt to garner new users.
With Jio Money, the company aims to enable small and medium sized merchants to accept Cashless payments through users’ smartphones. Jio Money has partnered with State Bank of India (SBI) to launch their wallet (interestingly SBI have their own Buddy wallet).
The ToI report also states that Jio Money will offer plug-play integration kit for e-commerce & m-commerce merchants. The benefits will include integrated billing & payment system, inventory management, online ordering, accounts and book keeping, customer profile and credit management and campaign management.
Jio Chat Now Available in Nine Countries
Jio Chat, the instant messaging app from Jio is now available across nine countries, including India. Customers in Canada, United States of America (USA), United Kingdom (UK), United Arab Emirates (UAE), South Africa, Singapore, Australia and China can now download Jio Chat and chat with friends and family across these countries.
Users from these nine countries can download Jio Chat through Apple store for iOS and on Android through Google Playstore.
Jio Chat was launched in April of this year in India – You can find our review of Jio Chat here.
[…] was last year December when we reported that Reliance Industries is going to launch Reliance JioMoney digital wallet for the masses and after a lot of delays, the digital wallet has finally rolled out […]
Jio Money is already available. Just go to appstore.jiomoney.com and enter your mobile number. It will give you the apk file. You can then use it normally. I used it just 2 days ago and successfully transferred Rs 10000 to my bank account. Few of the links in the FAQ section are substituted by text though. Also there is mention of the jio money website in the FAQ’s, the website is jiomoney.com. You can also see the new Jio logo on the app as well as the functionality for Jio 4G recharges within the app. Have a go at it. I just did.