Jio has brought UPI payments support to the MyJio app for select users, according to a media report. The new development is aimed to counter the likes of Google Pay and WhatsApp that have enabled UPI payments for the masses. The telco is said to have added the UPI option on its MyJio app and is reportedly providing those users with a virtual payment address (VPA) carrying UPI handle @Jio. Jio was earlier in the reports for discussing with banks such as Axis Bank, ICICI Bank, and SBI to facilitate UPI payments through its platform.
The MyJio app shows the UPI payments option for select users, reports Entrackr. As per the screenshots shared by the website, the new option is available alongside access to existing services such as JioSaavn, JioCinema, and JioEngage among others.
Upon successfully signing up, users are said to receive a VPA with UPI handle @Jio. The app is also seen to ask users to choose from their bank accounts which they want to link with their UPI ID. Further, it is said that users are required to enter their mobile number, debit card number attached with the bank account number for generating a UPI PIN that they’ll be able to use for future transactions.
The signing up process for UPI payments on the MyJio app looks similar to what we already have on platforms such as Google Pay, Paytm, and WhatsApp.
The reported move by Jio would boost UPI payments in India. According to the National Payment Corporation of India (NPCI), more than 1.3 billion transactions worth over Rs. 2 trillion (precisely, Rs 2,02,506 crore) were registered through UPI in December alone. Jio presently leads the telecom sector in the country with over 36.9 crores mobile subscribers as of November last year, as per the data shared by the Telecom Regulatory Authority of India (TRAI).