Reliance Jio Infocomm unveils digital wallet

reliance-jioReliance Jio Infocomm owned by Mukesh Ambani has launched its digital wallet service— JioMoney Wallet following the commencement of 4G services to the public through an employee-driven invite system.

Reports say Jio has roped in over 50,000 online merchants for the wallet service and could soon start supporting transactions on online marketplaces such as Flipkart, Amazon, and Snapdeal. JioMoney will also be accepted at thousands of offline stores across India.

The newly launched wallet is available on Google Play Store and Apple App Store, is the second application from Reliance Jio to go live after messaging app Jio Chat. Sources said the service was being used by Reliance Industries employees at company cafeterias and Reliance Retail units.

The company has already obtained a payments bank licence in partnership with State Bank of India, which will help the telco accept deposits as well. It will give Reliance Jio access to the Rs 350-crore mobile wallet market in India. The wallet service has been made live for the public following four months of testing within the group.

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