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Jio Money Merchant app helps transition to cashless economy

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MUMBAI: Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani today, while unveiling Jio’s Happy New year offer, lauded the prime minister Narendra Modi for his bold and historic decision to demonetise some currency.

Ambani said that, by doing this, Modi has given the strongest possible push to the growth of a digitally-enabled, optimal-cash economy in India. He believes that digitally-enabling transactions will help create a fair, transparent and strong India and Indian economy.

“It will bring unprecedented accountability at every level. I believe that the common people will be the biggest beneficiaries of this change. Every Indian will have a Digital ATM in their hands, which they can operate whenever and wherever they want," said Ambani.

With the Jio Money application, every Indian has access to a digital money wallet that is linked to their bank account. In order to make this possible, JioMoney is rapidly expanding its reach to millions of touch points where Aadhar based micro-ATMs will be deployed, informed Ambani.

Jio is committed to support the growth of a digital economy in India. One of the key drivers for adoption of digital money and cashless way of living is people’s ability to convert physical cash into digital cash and vice-versa. In order to make this possible, Jio Money is rapidly expanding its reach to millions of touch points where Aadhar-based micro-ATMs will be deployed.

Jio also announced the launch of the Jio Money Merchant Solution. Starting 5 December, every merchant can download the Jio Merchant money application. This solution provides access to Jio’s suite of services, including customised offerings such as digital money, for an important segment of the Indian economy. This will enable digital transactions of all types, whether at mandis, small shops, restaurants, railway ticket counters, for bus and mass transit and even for person-to-person money transfers.

Jio believes that this offering will contribute significantly in realising the PM’s vision of transitioning to a cashless economy.

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