Reliance Industries on Thursday announced that it will launch its Jio-Money Merchant Solutions to enable digital transactions, especially among small merchants "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 ."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.
Using the JioMoney Merchant App, merchants can also make supplier payments, transfer money between his bank account and use digital petty cash.