Reliance Jio’s Digital Payment Service, Jio Money to Benefit Kiranas

Reliance Jio is the telecom arm of parent company Reliance Industries (RIL). Its new payment app called Jio Money Wallet is expected to greatly benefit ‘kiranas’ across the country as it would allow them to have a complete record of customer transactions as well as help them in terms of restocking.

Jio Wallet’s pilot run will comprise 1,400 such stores and is set to launch over the next couple of months.

Jio Money Wallet

Jio Money Wallet is designed to enhance the services of ‘kiranas’ and other start-ups based on the former’s business model. It would facilitate seamless digital payments along with maintaining a history of each consumer.

The consumer history service will go a long way towards ensuring that the stores stock the products that are in demand, thereby increasing their profit margins and increasing the efficiency of their stocking systems.

It will also help the stores to modernize their supply chain and enhance the store’s relationship with the distributors. Stores and start-ups making use of this Jio application will have access to supply-chain solutions as well as data analytics.

Benefits to Reliance Jio

Mukesh Ambani led Reliance Jio might be bringing about the greatest Internet revolution in the country by making quality services affordable and accessible to all. It is not only bringing down the costs associated with successful start-ups, but also ensuring that they use Jio’s broadband networks to conduct their payment transactions. Digitization of payments is on the rise, and Jio is taking advantage of the $1 trillion opportunity.

The financial data collected through this application may further be used to acquire loans by the ‘kiranas’ and the distributors from banks.

Jio Wallet’s business model

Once a store is operating the Jio Money Wallet app, a customer can simply walk in and select the list of items to be purchased through the store’s Wi-Fi network. Since the data is accessible by the store owner, the selected items are packed and digitally paid for. Jio Money Wallet also allows the stores to connect to the central distributors for restocking and digitizing their entire supply-chain process.

Tie-up with Federal Bank

The Reliance Jio Money Wallet app has also tied up with the Federal Bank for its wallet service that will enable one-touch direct payments. After its launch, bank customers will be able to conduct multiple and varied financial transactions with one click.

This partnership would allow individuals to complete transactions without refilling their wallets if they are customers of the specific bank. Jio Money Wallet allows bank customers to directly make payments as opposed to refilling their wallets from time to time.


Reliance Jio’s wallet app, Jio Money is a digital payments facility that is set to enhance customer experience and benefit ‘kiranas’. The service is further enhanced due to Reliance Jio’s tie-up with the Federal Bank.


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