State Bank of India(SBI) has associated with the most popular telecom organization Reliance Jio Infocomm to integrate its digital banking solution Yono with MyJio app to enhance the digital payment system. The SBI Yono will be preloaded with the Reliance Jio handsets. Jio Prime customers can make use of the digital payment app SBI Yono and can get the benefits of special deals and offers Reliance brands.
SBI Associates With Jio For Digital Transaction Acceleration
Existing Jio clients will get the advantages either by downloading Yono on their handsets or at the time of replacement cycle, SBI’s deputy managing director Mrutyunjay Mahapatra.
“It’s a non-exclusive tie up so we can do a similar arrangement with other service providers. However, there is no such move at present,” he said.
Around 1.5 crores of 42 crores SBI clients are using Yono now while the keeping banking behemoth anticipates that the number will increase with the organization with Jio. The most recent deal will develop SBI and Reliance’s organization after their 30:70 joint venture in Jio Payments Bank.
“The scale of the SBI customer base is unmatched globally. Jio is committed to using its superior network and platforms combined with the Retail ecosystem to accelerate digital adoption serving all the needs for SBI’s and Jio’s customers,” Reliance Industries Ltd Chairman Mukesh Ambani was quoted as saying in a press statement issued by SBI.
MyJio, an over-the-top mobile application will now get money related administrations abilities of SBI and Jio Payments Bank. SBI will likewise be drawing in Jio as one of its favored accomplices for outlining and giving network and connectivity solutions. Furthermore, Jio Phones will be accessible on extraordinary offers for SBI clients. The service will be taken off in the following 60-90 days.
“All the areas of co-operation are mutually beneficial enhancing the digital foot-print for SBI customers with superior and rewarding customer experiences,” SBI chairman said.