Mukesh Ambani-led telecom major Reliance Jio has launched UPI-powered payments service and has started offering the feature to its subscribers. The company has become the first telecom operator to enter the UPI payments space.
Reliance Jio, with its UPI payments feature, will now compete with private UPI payments providers -- Paytm, Google Pay and PhonePe.
Currently, Reliance Jio is India's largest telecom operator with over 370 million subscribers. Jio's UPI payments feature, which is only available for select users now, will soon be made available to others.
Jio's UPI payments/money transfer feature has not been directly linked to the Jio Money wallet but is available on the LTE network provider's My Jio app. This app acts as a portal to other Jio apps like -- JioCinema, JioTV and JioCloud.
How does Reliance Jio's UPI feature work:
- Step 1: First, the person needs to generate a unique UPI handle, under Jio's extenction - @Jio.
- Step 2: After the UPI handle is created, the user has to link their bank account and verify bank details with the app.
- Step 3: You are ready to make, accept payments just like any other UPI payments app.