The 4G-only telco Reliance Jio is reportedly rolling out its digital payments app Jio Pay to select Jio Phone users in India. This is as per a report by BGR India.
This follows after the telco was reported to be working with the National Payments Corporation of India to make its payments app available to Jio Phone users in India.
The report mentioned that the payments app is being rolled out to Jio Phone users in a phased manner.
The report further said that the app was being tested from the last one year now. However, the app was rolled out to select Jio Phone users on August 15.
The user interface of the Jio Pay app resembles that of Paytm’s and the app supports UPI payments. The Jio Pay app also which has been built on a tokenization system, supports features like Tap and Pay, the functionality to send Money via UPI, Jio Recharge with the ability to add multiple bank accounts for seamless transactions. Users can also make contactless NFC payments via any NFC POS device.
As of now, Jio has partnered with Axis, ICICI, HDFC, Standard Chartered, IndusInd, SBI, Kotak, YesBank, RBL Bank for providing payment services, according to the report.
It is also reported that both Credit and Debit cards (Mastercard and VISA) of these banks can be tokenized and used for payment.
The telco has also reportedly reworked the UPI payment transaction system for its Kai OS operating system on Jio Phone as it is the NPCI Library that displays the UPI PIN screen where users are required to enter their UPI PIN for transactions.
Source: The Economic Times