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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
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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Paytm Not to Charge Users Extra Amount for Digital Transactions on its Platform

“In such cases, we recommend our users to pay through their debit cards and UPI to avoid these charges. We would like to reiterate that these charges aren’t levied by Paytm in any scenario,” said the company, adding that it does not have any plans to levy any such fee in the future

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paytm
Not charging extra for digital transactions: Paytm. Wikimedia Commons

Digital wallet Paytm on Monday refuted reports that it is going to charge users extra amount for digital transactions on its platform.

“We would like to clarify that Paytm app/payment gateway owned by One97 Communications Limited does not charge or levy any convenience/transaction fee from our customers on using any payment method which includes cards, UPI, net-banking and wallet.

“Paytm customers will continue using all the services available on the platform without any fee,” the Noida-headquartered company said in a statement.

Paytm Logo. Wikimedia Commons

The ET report on Sunday said that Paytm is going to allegedly charge 1 per cent on payments via credit cards, 0.9 per cent for debit cards and up to Rs 12-15 through net banking and UPI-based methods.

According to the digital payments company, there have been few merchants like educational institutes or utility service providers who do not absorb credit card charges and expect customers to pay the same.

Also Read: South Korean Tech Giant Samsung Ready to Work with Telcos for Secure 5G Roll out in India

“In such cases, we recommend our users to pay through their debit cards and UPI to avoid these charges. We would like to reiterate that these charges aren’t levied by Paytm in any scenario,” said the company, adding that it does not have any plans to levy any such fee in the future. (IANS)