Reliance Jio has entered the UPI-powered payments space, offering the facility to its over 370 million subscribers, its latest app update shows. As of now, Jio’s UPI payments facility is available for select users but will soon be available to others as well.
It’s worth noting that WhatsApp has been in talks before Jio to launch its payments service. However, the Facebook-owned instant messenger hasn’t received a final nod from NPCI due to uncertainty over data localization and other regulatory hurdles.
Jio, which already has a wallet service under JioMoney, will be the first among telecom operators and second among payments banks to have enabled UPI payments service.
The company has integrated the UPI option in its main app MyJio.
Source: Entrackr
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