[caption id="attachment_208832" align="aligncenter" width="700"]
Federal Bank here on Thursday said it has signed an agreement with Reliance Jio Money for one-click payment service.[/caption]
Federal Bank here on Thursday said it has signed an agreement with Reliance Jio Money for one-click payment service.
Reliance Jio Money is a wallet application that will be launched soon for mobile devices where Federal Bank will enable a direct payment option for its customers.
ALSO READ: Over 8,000 Willful Defaulters Who Owe Banks Over Rs 76,600 crore, Says Arun Jaitley
Through this service, the leading private sector bank’s customers can complete a transaction without funding the wallet. The bank’s customers will get a facility to directly pay from their account for the services offered through the wallet (without pre-loading their wallet).
This arrangement will help customers retain cash in their account and use it only when a transaction is made, unlike other instances where a wallet will require the user to maintain balance exclusively in the wallet. Once launched, the bank’s customers will be able to perform a variety of transactions across numerous merchants in just a click.
ALSO READ: Reliance Defence Signs Military Aircraft, Vehicles Pacts With Ukraine
“This arrangement would empower customers to retain the funds with their accounts while enjoying the host of services available in the app," said Shalini Warrier, Chief Operating Officer, Federal Bank.
She added: "The bank is very keen on improving customer experience in the digital space and will be coming up with a lot more arrangements and innovations to excite the customers.”
For all the latest news and updates from India and across the globe, follow us on @NewsWorldIN on Twitter and News World India on Facebook