After the jio aannouncement held on December 1, the telecom world is looking towards the reliance jio, how reliance jio is going to change the face of telecom sector in india. As in my previous post we all that jio is the fastest growing network in india. Reliance jio is famous for its welcome offers in which you can access unlimited data,calling and sms for free of cost. By the arrival of reliance jio makes tight competition between the other networks like airtel,vodafone,idea,bsnl.
Also read:Reliance Jio Money to launch merchant app from December 5
Now , reliance jio is comming with new merchant e-wallet app with jio money will definitely makes other e-wallets like paytm,freecharge to pose tight competition.E- Finance biggies such as Paytm, Freecharge has already been capitalizing on the currency crisis promoting digital payment. Now, Reliance Jio is preparing to enter the scene with bigger plans than ever in this arena. The company at its Reliance Jio Announcement event revealed their plans to rope in 10 million retailers across India. The number is certainly big and it is very apparent that the company understands where their market lies. Jio Money will be targeting 17,000 towns and over 4,00,000 villages. The reason why JioMoney may pose fierce competition to its contemporaries in e-financing like Paytm and Freecharge, because of its massively popular Reliance Jio telecom network.
Also read :5 New updates and features announced by mukesh ambani for jio on december 2016
Jio Money and Jio-Money Merchant Solutions services by Reliance Jio will enable digital transactions, merchants especially to the smaller components of Indian economy. Smallest components being the focus, Jio Money will enable transactions at local shops to railway ticket counters and from mass transportation to person-to-person money transfers.
Merchants can receive payments from their customers Jio Money wallet directly into their registered bank account. The app will enable merchants to make payments to suppliers and also transfer the money from their Jio Money account to their bank account. As the company claims, its digital money eco-system will be focused to bring in 10 million retailers on their platform in coming weeks.
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