JioMoney is the what the nation deserves post demonetization

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Because of the whole demonetization saga, mobile wallet apps are suddenly the rave in India. Mile-long queues outside banks and ATMs has made urban India jump aboard the cashless payment options and Reliance Jio with its JioMoney mobile wallet app is looking to ride the digital payments wave. And to gain a one up against its rival, JioMoney is giving some nifty offers to attract more customers.

According to sources, JioMoney now offers 10 per cent Cashback on total invoice, after shopping with JioMoney in Reliance Fresh and Reliance Smart stores across the country. And to sweeten the deal, there is no cap on the maximum cashback one can avail.

And it’s not only for those who use the JioMoney app. Cash loading points inside each store allows customers to receive the Cashback even if paid by cash. The Cashback will be credited to the customers account within two working days.

It will be a relief for those getting only the notorious Rs 2,000 notes which no shopkeeper seems willing to accept. Cash loading points inside these stores are allowing customers to give their Rs 2,000 notes and receive the change through JioMoney.

The app also offers the option of transferring the change back to their bank accounts. On top of that, JioMoney is accepted at over 50,000 online merchants and over 70 billers, allowing customers to make better use of the change and subsequently helping India go truly cashless.

Cashless payments can be used for paying for utilities, bill payments, insurance payments, e-commerce transactions and offline store payments.

The JioMoney app is available for free on both iOS and Android and it comes bundled with the MyJio app and even as a separate app.

Reliance Jio launched amidst much fanfare courtesy the Jio Welcome Offer which offers free unlimited 4G data and voice calls till December 31st. But, in the last two months, the service has been receiving a lot of flak mostly because of slow data speeds and frequent call drops. As a result, Jio has been trying to innovate other consumer services like JioMoney, JioMusic, JioMovies and JioTV.