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Following the Narendra Modi-led NDA government's demonetisation move,
Reliance Jio will now offer 10% cashback on shopping at Reliance Fresh and Reliance smart stores with its digital payment app ‘JioMoney ’, according to the industry sources. There will be no capping on the cashback earned and it will be credited in two working days.
Customers who usually use cash for shopping can also avail the cash back by utilizing the cash-loading points in each store to pay via JioMoney and earn the cashback of 10% on the total invoice.
The digital payment also allows customers to transfer the loaded unused money in the JioMoney account back to their bank account. However, customers can use the money loaded at over 50,000 online merchants and more than 70 billers including utilities, bill payments, insurance payments, e-commerce transactions and offline store payments.
According to industry experts and analysts, Bharti Airtel, Vodafone India and Idea Cellular are expected to collectively see a 40-50% growth in mobile wallet transactions. Reliance Jio’s move to offer cashback can also be seen as an attempt to gain from this momentum.
Reliance Jio: Demonetisation: Reliance Jio to offer 10% cashback on shopping with JioMoney app - ET Telecom
Reliance Jio will now offer 10% cashback on shopping at Reliance Fresh and Reliance smart stores with its digital payment app ‘JioMoney ’, according to the industry sources. There will be no capping on the cashback earned and it will be credited in two working days.
Customers who usually use cash for shopping can also avail the cash back by utilizing the cash-loading points in each store to pay via JioMoney and earn the cashback of 10% on the total invoice.
The digital payment also allows customers to transfer the loaded unused money in the JioMoney account back to their bank account. However, customers can use the money loaded at over 50,000 online merchants and more than 70 billers including utilities, bill payments, insurance payments, e-commerce transactions and offline store payments.
According to industry experts and analysts, Bharti Airtel, Vodafone India and Idea Cellular are expected to collectively see a 40-50% growth in mobile wallet transactions. Reliance Jio’s move to offer cashback can also be seen as an attempt to gain from this momentum.
Reliance Jio: Demonetisation: Reliance Jio to offer 10% cashback on shopping with JioMoney app - ET Telecom
