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    Jio Financial Services Releases Beta Version of UPI App

    Jio Financial Services has unveiled “JioFinance”, an app that integrates digital banking, UPI transactions, bill settlements, and insurance advisory, and offers a consolidated view of accounts and savings, on a single platform. The app has been released in its beta version, according to a filing with the Bombay Stock Exchange on the 30th of May. The company claims the app possesses “frictionless navigation” and will cater to users of all levels of familiarity with financial technology.

    According to the app’s Google Play Store description, the platform offers the following features:

    • UPI transactions for merchants, bill payments, money transfers
    • Bank accounts with zero balance features and up to 3.5% interest rate
    • Integration of FASTag, DTH, and mobile recharges alongside other bill payments

    What financial services will be available on the app?

    The company plans to expand loan solutions, starting with loans on mutual funds and then progressing to home loans.

    “We are excited to introduce the JioFinance app to the market, a platform that shall redefine the way individuals manage their finances today. 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 & transactions to make financial services more transparent, affordable, and intuitive,” said the company’s spokesperson. 

    Reliance Jio saw a 35.2% rise in data traffic year on year in the fourth quarter of FY24. The company’s customer base also added 10.9 million net subscribers, taking its total to 481.8 million.

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    The post Jio Financial Services Releases Beta Version of UPI App appeared first on MEDIANAMA.

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