Mukesh Ambani led firm launches new app to take on PhonePe, Paytm

Mukesh Ambani continues to expand his business empire, entering into new segments every other day. The 67-year-old billionaire is one of the richest men in the world with a net worth of Rs 963900 crore as per Forbes. Now, his Jio Financial Services (JFS) has recently unveiled the beta version of 'JioFinance' app. The app offers UPI and digital banking among others. Currently, the app is in beta version. This is an all-in-one app on which finance and digital banking services will be available. All kinds of banking services along with UPI payment facility will be available on this app.

Apart from this, bill settlement and insurance advisory will also be available in the app. It has been made available for download on Google Play Store. The app will finally be rolled out to general users after user feedback. Jio Finance app will take on Google Pay, PhonePe and Paytm. Many services will be available in one place on Jio Finance app, which its rivals do not offer. The app will cater to users of all levels of familiarity with financial technology and ensure effortless money management, the company said.

Key features include instant digital account opening and streamlined bank management with the 'Jio payments bank account' feature. Jio Financial Services, carved out from Reliance Industries Ltd, is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.

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