Reliance yesterday announced the Jio Happy New Year offer and also unveiled the Reliance Jio Money Merchant solution. Jio Money will help merchants easily switch to digital mode i.e. they can send and receive money using this platform – enabling cashless transactions.
Reliance is aiming to get over 10 million small merchant retailers across India signed up for Jio Money ecosystem, within few weeks. Indian government recently went ahead with the demonetization of Rs. 500 and Rs. 1000 currency notes and the Prime Minister is encouraging Indians to go cashless, use plastic cards.
Using debit or credit card at big malls and even at mid-sized stores is not an issue as they have that option, however huge number of small shops / restaurants do not have any option. Reliance Jio Money Merchant Solution will fill in this gap.
This platform will empower merchants to create a digital ecosystem, from 5th December the Merchants will be able to download the app. With this app the merchants will be able to receive payments from customers.
The Jio Money platform can also be used to book bus tickets, train tickets and a person can even transfer money to another person. Reliance will also launch Aadhaar based micro ATMs to help facilitate Jio Money.