Jio’s Jio Financial Service has recently launched the beta version of its new Jio Finance App, aiming to compete with popular payment apps like Paytm and PhonePe.
This new app will allow users to make UPI payments, access digital banking services, and get loans on mutual funds.
Features of the Jio Finance App
1) UPI Payments
Users can make UPI payments just like they do with Paytm and PhonePe. By linking the app to the mobile number connected to their bank account, users can easily make transactions.
2) Instant Digital Account Opening
The app allows users to open an instant digital bank account or prepaid wallet, similar to how accounts were previously opened in Paytm. This feature facilitates easy bill payments and money transfers through the app.
3) Integration with Jio Payments Bank
The process of opening an account or wallet is completed through Jio Payments Bank, which is registered with RBI’s division DICGC.
4) Comprehensive Financial Services
The app integrates various financial services, including digital banking, UPI transactions, bill settlements, and insurance advisory, all within a user-friendly interface.
Future Launch Plans
Currently, the app is in its beta version and is expected to be available to the general public soon with the final version.
Jio aims to provide a seamless and user-friendly experience, making financial transactions more convenient for users.
