Reliance Jio has finally entered the UPI digital payment service in India. This service will give stiff competition to other payment portals like google pay, Paytm, etc. It is noteworthy that Reliance is currently India’s largest telecom operator with millions of users. A few days ago, WhatsApp also announced its arrival of digital payment services in India. It would be quite interesting to see the rivalry between these payment portal services in India.
As Reliance Jio has finally launched its UPI payment feature in India, it has directly reached to its 37 crores users. Currently, Paytm is the largest UPI transaction provider in India. Google pay and phonepe are at the second and third positions, respectively. The launch of UPI based payment service by Mukesh Ambani’s company is a big competition for its rivals. The number of consumers of Jio is 37 crore, in which most users use smartphones, or they have Jio phones.
According to reports, Jio can provide this facility on its official app. That is, this feature may be available on the My Jio app, which can become a big challenge for other service providers. It is worth noting that WhatsApp is already talking to NPCI before Jio. ho now they have not been approved for data localization. Jio already has a Jio Money Wallet service. UPI service on My Jio app may soon look like Jio TV, Jio Cinema, Jio Cloud. According to the report, users can get @Jio UPI handle.
How does Reliance Jio’s UPI feature work:
- Step 1: First, the user needs to create an individual UPI handle under Jio’s extension – @Jio.
- Step 2: After when the UPI handle is generated, the user has to connect their phone number, bank account details, and have to confirm bank details with the app.
- Step 3: You are ready to make, receive payments just like any other UPI payments app.