The UPA service facility will be launched soon on Reliance Jio Money. With the introduction of this facility, the companies already present in the market are likely to get tough competition.
The company has started negotiations with many banks for this. Conversations starting with these banks.
Reliance Jio has asked the State Bank of India, Axis Bank and ICICI Bank to link its UPI payment system with the Jio Money App. At present, Jio has a deal with SBI.
|UPA Facility Will Start Soon|
NPCI awaiting approval
Reliance Jio is waiting for the approval of the UP-operative company National Payment Corporation of India. Once approved, the company will apply it across the country in the first quarter of the next year.
Currently, there are companies in the market that offer pioneering UPI services on PayTM, Phone Pay and Google Pay.
Last month 482.36 million IPI transactions were made. At present, PayTM holds the first position with 37% of the shares. The second place is on the phone pay and the third on Google.