Mukesh Ambani’s Jio Financial Services has introduced a new super-app for digital banking and payment services that will take on competitors including Google and Amazon in a crowded Indian market.
The company announced the test version of its platform, JioFinance, for UPI transactions, bill settlements as well as insurance-related services. The financial arm of the conglomerate plans to expand into MF loans and mortgage lending, it said on Thursday.Ambani’s initiative comes when rival Adani Group is reportedly in talks to expand into e-commerce and payments.
