1. Reliance Jio announces partnership with Uber, challenges Paytm’s dominance in digital payment

Reliance Jio announces partnership with Uber, challenges Paytm’s dominance in digital payment

Challenging the dominance of Paytm in digital transactions across the country, Reliance Jio has tied up with Uber Technologies Inc to open options for riders to pay through Reliance Jio Infocomm's Jio Money.

By: | Updated: February 20, 2017 10:12 PM
Reliance said on Monday it had struck a partnership with Uber Technologies Inc which will help it challenge PayTM's dominance in digital payments. Reliance said on Monday it had struck a partnership with Uber Technologies Inc which will help it challenge PayTM’s dominance in digital payments.

Challenging the dominance of Paytm in digital transactions across the country, Reliance Jio has tied up with Uber Technologies Inc to open options for riders to pay through Reliance Jio Infocomm’s Jio Money. Till now Paytm, backed by Chinese internet giant Alibaba, was the only option available to book a Uber ride through digital payment.

Reliance said on Monday it had struck a partnership with Uber Technologies Inc which will help it challenge PayTM’s dominance in digital payments. Such transactions rose in popularity after a cash crunch caused due to the Indian government’s move to scrap some currency notes in November. Reliance, which launched Jio Money in December, said it also plans to soon allow users to book and pay for Uber rides from the app itself, a feature that PayTM does not offer.

As part of the partnership, Jio and Uber will work together and explore various opportunities to progressively enrich and enhance the digital life experience of their users through complementary programmes.

Today JioMoney, the PPI wallet offered by Reliance Payment Solutions Ltd, and Uber announced an agreement that will enable Uber riders to pay for their rides using JioMoney and thereby enhance the digital transaction ecosystem in India.

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Similarly, JioMoney users will soon be able to request and pay for Uber rides from within the JioMoney app. The partnership will give a major boost to cash-free payments in India and provide mobility options to millions of Jio users.

Starting today, Uber will gradually rollout the JioMoney payment option for its users across the country. This integration provides a hassle-free payment experience to Uber riders and will be an added avenue for digital transactions for JioMoney’s rapidly growing user-base across India.

Anirban S Mukherjee, Business Head, JioMoney said that “Jio aims to bring the benefits of evolving digital technologies to every Indian through an entire ecosystem that will allow Indians to live Digital Life to the fullest. JioMoney is an integral part of the Jio ecosystem and is fast emerging as a preferred option for digital transactions due to its ease of use, intuitive interface and growing acceptability. JioMoney’s integration with Uber will power the rapid migration of many more Uber transactions to the digital platform.”

Madhu Kannan, chief business officer, India and Emerging Markets for Uber, said that “We are delighted to partner with Reliance Jio to unlock synergies across two of the largest user bases in India. Digital payments have become part of our everyday lives and by integrating JioMoney as a payment option, our riders will have the ability to use a familiar and consistent payment experience. Through this strategic partnership we are looking to fast forward to digital solutions at scale for the Indian users.”

To celebrate the association, JioMoney and Uber will offer exclusive incentives to every user paying for Uber rides through JioMoney. The users of JioMoney will enjoy the hassle free payment experience of JioMoney at multiple avenues along with attractive offers and coupons available through JioMoney app.

(With inputs from agencies)

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