Paytm will have to pool Uber with JioMoney

India’s incumbent telecom player Reliance Jio (Jio) has partnered with car hailing app, Uber, to provide the former’s e-wallet — JioMoney — as another e-wallet payment option for cab riders. Uber till now only had Paytm as a wallet payment option. The cab hailing app’s local rival, Ola had long back disbanded Paytm and shifted to its own e-wallet Ola Money. Paytm claims to have over 160 million users. Announcing the partnership, Anirban S Mukherjee, Business Head, JioMoney said, “JioMoney is an integral part of the Jio ecosystem and is fast emerging as a preferred option for digital transactions due to its ease of use, intuitive interface and growing acceptability. JioMoney’s integration with Uber will power the rapid migration of many more Uber transactions to the digital platform.” Madhu Kannan, Chief Business Officer, India and Emerging Markets, Uber, added, “We are delighted to partner with Reliance Jio to unlock synergies across two of the largest user bases in India. Digital payments have become part of our everyday lives and by integrating JioMoney as a payment option, our riders will have the ability to use a familiar and consistent payment experience. Through this strategic partnership we are looking to fast forward to digital solutions at scale for the Indian users.” Jio claims to have 72 million telephony subscribers. It hasn’t revealed the subscriber data of JioMoney users. JioMoney payment option in Uber will be gradually rolled out across the country. There will also be incentives for users paying for Uber rides through JioMoney.

Abhinav Mohapatra

An author who has a keen interest for the ‘off-beat’ <!--more-->An author who has a keen interest for the ‘off-beat’, he has covered and explored multiple facets of the marketing, advertising

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