---
title: "Reliance Jio has launched which digital wallet service for peoples?"  
description: "Reliance Jio has launched which digital wallet service for peoples?"  
author: "samay srivastava"  
published: 2018-03-11  
canonical: https://answers.mindstick.com/qa/39576/reliance-jio-has-launched-which-digital-wallet-service-for-peoples  
category: "current affair"  
tags: ["current affair"]  
reading_time: 2 minutes  

---

# Reliance Jio has launched which digital wallet service for peoples?

[Reliance Jio](https://yourviews.mindstick.com/view/81293/reliance-jio-set-to-conquer-markets-coming-in-it-s-way) has launched which [digital](https://www.mindstick.com/articles/85590/how-to-create-a-productive-digital-workspace) wallet [service](https://answers.mindstick.com/qa/33514/by-default-when-a-service-declared-in-the-androidmanifest-in-which-thread-will-it-run) for peoples?

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## Answers

### Answer by Biswajeet Bhattacharya

![Reliance Jio has launched which digital wallet service for peoples?](https://answers.mindstick.com/questionanswer/81fe227d-f63f-4d70-8854-a32a39f26427/images/8e098680-9c39-41d2-bec9-16d9f95d255f.jpeg)

**Jiomoney** is a **digital wallet** launched by **Reliance Jio**. This digital wallet will be available for both the **iOS** and **Android** users across **India**.

![Reliance Jio has launched which digital wallet service for peoples?](https://answers.mindstick.com/questionanswer/81fe227d-f63f-4d70-8854-a32a39f26427/images/92d22f60-beb4-4629-b71b-f586cdda548c.jpeg)

**Mukesh Ambani Chairman and Managing Director of Reliance Industries** informed about the collaboration of the company with more than 20000 **online merchant partners** who will accept Jiomoney for transactions. Major online shopping portals such as **Flipkart** and **Snapdeal** will also be accepting Jiomoney for **transactions**. Moreover, Jiomoney can also be used for **payment of bills** as well as **sending and receiving** digital money. **Transfer** of digital money can also be done from one wallet to another wallet with a **processing fee of 2.5%**. As per the guidelines of **the Reserve Bank of India (RBI)**, it is mandatory for Jiomoney to update the **KYC** process before increasing the transaction limitations.

![Reliance Jio has launched which digital wallet service for peoples?](https://answers.mindstick.com/questionanswer/81fe227d-f63f-4d70-8854-a32a39f26427/images/2d51d6a4-63a3-47ba-8d65-b8ab9a4d7f25.jpeg)

As per the report published from **TechSci Research**, it is estimated that with the growth in the number of smartphone users and growing internet facilities, and with the increase in **cashless transaction**, the **Indian Mobile Wallet Market** will surpass **USD 6 billion** by **2020**. The increase in the awareness level of digital wallet facilities, benefits and security measures and the increase in the acceptance of digital money as a payment mode is driving the mobile wallet market in India.

![Reliance Jio has launched which digital wallet service for peoples?](https://answers.mindstick.com/questionanswer/81fe227d-f63f-4d70-8854-a32a39f26427/images/52484bce-c06a-48af-ae39-afd93f1e4f4b.jpeg)

As the number of **internet users** is growing at a fast pace the increase in the usage of **digital money** is on the rise. Big cities such as **Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata, Pune** have registered the highest number of digital wallet users. Even Tier 2 cities like **Allahabad, Varanasi, Patna, Jabalpur** etc are also emerging in terms of digital wallet usage. With other well established digital wallet platforms such as **Paytm**, **Oxigen** wallet in the market, Jiomoney is going to face a stiff competition.

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Original Source: https://answers.mindstick.com/qa/39576/reliance-jio-has-launched-which-digital-wallet-service-for-peoples

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