Reliance Jio launches Jio Pay

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Billionaire Mukesh Ambani’s Reliance Jio has now set its eyes on its payments app built-in India. JioPhone users have reportedly started out receiving JioPay with Unified payments Interface (UPI) support.

JioPay is India’s prepaid pay autopay recharge service. With Jio AutoPay service we can build an autopay function to pay prepaid recharge. With this, customers shouldn’t recharge their mobile number manually. Additionally, Jio auto-recharge carrier gives as much as Rs 600 cashback if every person uses Jio prepaid auto recharge. This provider is integrated to offer a hassle-unfastened experience and unbuilt-interrupted services of Jio.

The Jio Pay app on Jio telephone supports entire features of a UPI app, including Add Bank, Scan and Pay, and Pay via VPA. The app additionally appears to built-in Recharge and fee history. It can additionally permit customers to make contactless payments via JioPhones built-in NFC.

As per news reports, Jio has been checking out the function built-internally for over a year, before rolling out to one thousand Jio telephone customers on August 15, currently to be had simplest to choose customers.

Previous reports recommend that Jio has been working with the National Payments Corporation of India (NPCI) to allow proprietary bills at the 4G telephone with smart features, the JioPhone, that released built-in July 2017.

As per the screenshots shared by BGR India, the JioPay app on the JioPhone offers capabilities like Tap & Pay, Send cash, Recharge, and bills. There’s also an alternative for users to view their payment history. Users also can upload multiple bank accounts to make seamless transactions.

To send and acquire cash, the JioPay app seems to be using  UPI and it’s also likely that the app going to leverage integrated  NFC at the JioPhone to enable the Tap & Pay characteristic.

Jio Pay for JioPhone has been constructed over a tokenization platform, and it uses ‘Tap and Pay’ contactless payment through NFC with the compatible POS built-in. Jio has on-boarded Axis, ICICI, HDFC, Standard Chartered, IndusInd, SBI, Kotak, YesBank, RBL bank according to the document. It’s also been stated that both Credit and Debit cards (Mastercard and VISA) of those banks may be tokenized and used for payment.

Right now only the original JioPhone customers have allegedly obtained UPI characteristics. There is no word as to when the function might be expanded to JioPhone 2 yet. The telco is likely to make a legit announcement soon and we may also see a wider rollout of the service in the coming days.

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