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Reliance to launch Jio-Money Merchant Solutions app to enable digital transactions, especially among small Merchants

Using the JioMoney Merchant App, merchants can also make supplier payments, transfer money between his bank account and use digital petty cash

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Reliance Jio Prime Benefits are introduced with Triple Cashback offer. Wikimedia.

Mumbai, Dec 1, 2016: To enable digital transactions, especially among small merchants, Reliance Industries on Thursday announced it was launching next week its Jio-Money Merchant Solutions.

“To enable digital transactions, merchants, especially small merchants, are an important component of our economy. To fuel their transactions, Jio is working to empower Indian merchants by building a digital retail ecosystem, which we are calling Jio-Money Merchant Solutions,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, in an address to stakeholders at RIL’s Navi Mumbai office.

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“Starting December 5, every merchant can download the Jio-Money Merchant Application,” he added.

Ambani said this will enable digital transactions of all types, whether they be at mandis, small shops, restaurants, railway ticket counters, for bus and mass transit and even for person-to-person money transfers.

“Customers can use their JioMoney wallets to pay merchants from their bank accounts, and merchants can use the Jio-Money Merchant App to accept these payments directly into their bank accounts,” he said.

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Using the JioMoney Merchant App, merchants can also make supplier payments, transfer money between his bank account and use digital petty cash.

“JioMoney is focused on signing up over 10 million small merchant retailers in the coming weeks across 17,000 towns and four lakh villages. With this, the JioMoney ecosystem will be a committed and enthusiastic partner for the smooth implementation of our Prime Minister’s game-changing vision of creating a digitally-enabled and strong Indian economy,” Ambani said. (IANS)

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Reliance MD Mukesh Ambani Speaks on Need of Movement Against Data Colonisation

He also announced his plans to create a "fully digital Gujarat" by connecting every home, office, school, college and market through Jio.

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Social Media has facilitated a phenomenal rise of businesses in terms of both products and services and created many positive socio-political trend

Invoking Mahatma Gandhi’s movement against colonisation, Reliance Industries Chairman and Managing Director Mukesh Ambani on Friday urged Prime Minister Narendra Modi to lead a fight against “data colonisation”, saying that Indian data must be “owned and controlled” by Indians.

“I pay homage to Mahatma Gandhi, the Father of our Nation, in the year of his 150th birth anniversary. Gandhiji led India’s movement against political colonisation… Today, we have to collectively launch a new movement against data colonisation,” he said addressing the “Vibrant Gujarat Global Summit 2019” here inaugurated by Modi.

Asserting that the data is the “new oil and wealth” in the new world, he said India’s data must be controlled and owned by Indian people and not by corporates, especially global corporations. “Honourable Prime Minister, I am sure you will make this one of the principal goals of your Digital India mission.”

“For India to succeed in this data-driven revolution, we will have to migrate the control and ownership of Indian data back to India … in other words, Indian wealth back to every Indian. India’s data must be owned and controlled by Indians only, not the global corporates. There is a need to launch a movement to bring back the control of data in our hands,” he said.

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Mukesh Ambani calls for movement against ‘data colonisation’

The Reserve Bank of India (RBI) had in October said that all digital payment firms like Google Pay, WhatsApp and the likes, must store data locally for their businesses in the country.

During the event, Ambani also announced that Reliance, which he said had invested Rs 3 lakh crore and catalysed one million jobs in Gujarat, would double its investment and employment numbers over the next decade.

Also Read: Reliance JioPhone Likely to Get WhatsApp Soon
He said Reliance Jio and Reliance Retail would soon launch a new commerce platform for small retailers — a mega mission which will first be launched in Gujarat and then across the country.

He also announced his plans to create a “fully digital Gujarat” by connecting every home, office, school, college and market through Jio. (IANS)