JioMoney is a semi-closed prepaid wallet that aims to enable mobile-based transactions, where customers can store money and use it for purchasing goods and services. With its Jio Money digital wallet, the company aims to enable mom-and-pop shops to accept cashless payments through smartphones.
How different is it from other similar options?
Jio Money wallet is just nothing when compared to its rivals like Paytm, Freecharge..etc. It just offers 1% of what paytm offers.One thing I want to discuss here is about transferring money from Jio Money to your bank account. You have to pay a charge of 4% to transfer your money back to your bank account which is right now 0% at Paytm.
If you think further more, for banking transactions UPI (BHIM) is the best one among all, which you can use to do transactions at Paytm or at any other wallets.
In future, I strongly believe that the “Money storage” will be stopped at e-Wallets and will only be used for doing transactions. i.e., while booking a Movie Ticket at Paytm, at the end while paying, you can pay via UPI (BHIM)
Unique Features of Jio Money
There is barcode scanning for faster payments in the JioMoney Wallet app. This way, you can quickly scan barcodes at the merchant stores.
*Recharge any Jio number in just a few simple clicks and user can get the best offers on your Jio payments.
*User can also recharge any connection prepaid or post-paid phone, DTH or data card.
*JioMoney helps user to make simple secure bill payments like Monthly gas, electricity, mobile and landline.
JioMoney make payments too faster.
*Enjoy exclusive deals, discounts and coupons from JioMoney’s partner brands
JioMoney Also help User
*Pay your insurance premiums digitally.
*Book train tickets or Uber cabs, buy tickets at Bookmyshow and Imagica, shop at Groupon and Starbucks, plus thousands of other retailers
*Send to and receive money from family and friends.
*Get great deals, coupons and cashback directly on your mobile phone from local merchants.
JioMoney also enables to digitize Reliance One loyalty points and earn extra points from within the app periodically. So, users can Download JioMoney application and use to secure way to make all digital payments.
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