“Jio UPI payments feature is integrated into the MyJio app alongside other apps like JioTV, JioCinema, and more”
Jio is slowly expanding beyond from being just a telecom operator in the country. With Jio Fiber it forayed into the broadband sector, it is lining-up IoT products and also has DTH service under its sleeve. Now, the young telecom giant is foraying into UPI payments service, and the feature is currently only available to selected users, but it shouldn’t be long before it’s rolled out publicly. JioMoney wallet is already in existence, and when it launches the Jio UPI payments, it’ll be the first telecom operator to offer the same. According to a report from Entractr, the feature is integrated into the MyJio app alongside other apps like JioTV, JioCinema, JioCloud and more.
What is Jio UPI payment?
Jio UPI payment service would offer users a Virtual Payment Adress (VPA), and a UPI handle (@Jio) after they’ve signed up for the service. It requires a valid mobile number, a bank account and a debit card of course to generate a UPI PIN. At the moment, it isn’t clear what the UPI payment service would be called and what it has to offer. But considering Jio’s history, it will be taking on current market leaders such as Google Pay, PhonePay, Paytm and others.
Separately, WhatsApp is also planning on launching its payments service, but it hasn’t received the final nod from NPCI owing to unclear over data localisation and regulatory hurdles. For now, WhatsApp payment service’s future isn’t certain, and it isn’t clear when it would be launched officially either.