Home Internet, Software & Apps JioFinance app with UPI, bill payment services announced in India: how it works, features
JioFinance app with UPI, bill payment services announced in India: how it works, features
Highlights
- The JioFinance app has been announced in India in beta.
- This app offers UPI, bill payments, and more financial services.
- The JioFinance app will also offer money-lending services in the coming days.
In a bid to empower its users, Jio Financial Services has launched the JioFinance app in beta version for Indian consumers. The new Jio app will be integrated with several financial services like the Unified Payments Interface (UPI), bill payments, home loans, and account aggregation. Here are more details about the JioFinance app.
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JioFinance app details, features
- According to the company, the JioFinance app is touted to be a comprehensive financial services platform.
- The application is currently in its beta stage and is anticipated to arrive soon on the App Store or Google Play Store.
- The application allows users to access UPI services and make utility bill payments, similar to platforms like PhonePe or Google Pay.
- The company says the application will facilitate account aggregation, enabling users to monitor multiple savings bank accounts from one location.
- Additionally, the app will give users the option to open a new Jio Payments Bank account, mirroring the functionality of Airtel Payments Bank or Paytm Payments Bank.
- This financial services application also offers expert guidance on insurance products to provide better financial planning.
- The JioFinance app will offer money-lending services in the coming days, like home loans or allowing users to get loans on their mutual fund investments, similar to the services provided by Aditya Birla Capital Digital and Bajaj Finserv.
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"Our end goal is to simplify everything related to finance in a single platform for any user across all demographics, with a comprehensive suite of offerings like lending, investment, insurance, payments and transactions and make financial services more transparent, affordable and intuitive," the company said in a statement.
The JioFinance app is a part of the Jio Financial Services division. It is worth mentioning that Jio Financial Services was separated from Reliance in August 2023 and is now a separate entity. The company says that with the beta launch of the JioFinance app, the application aims to encourage user feedback in order to enhance and improve the digital banking experience over time for its users.