Reliance set to enter e-commerce market with JioMoney

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In a bid tap the e-commerce industry, Reliance is all to set to push JioMoney to the small retail stores.

Reportedly Jio has roped in brands such as ITC, Wipro, Dabur, Tata Beverages, Godrej Consumer Products and Amul as part of this upcoming project.

The brand is running a pilot project across several stores and consumer brands in Mumbai, Chennai and Ahmedabad.

It is expected to enter into its offline retail integration and expected to launch it widely by next year.

This new stint is going to benefit the firm to a greater extent as offline grocery and department stores account for 80-90 per cent of the overall retail transactions in India.

Jio has an existing base of over 130 million subscribers and it additionally needs to insert a layer into the consumer’s transaction process.