Jio Money Digital Wallet Launching Soon, Jio Chat Now Available in 9 Countries
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.
Jio Chat was launched in April of this year in India – You can find our review of Jio Chat here.