NewZNew (Chandigarh) : Federal Bank signed an agreement with Reliance Jio Money for One-Click payment service. Reliance Jio money is a wallet application that will be launched soon for mobile devices where Federal bank will enable a direct payment option for its customers. Through this service the Bank’s customers can complete a transaction without funding the wallet. Bank’s customers will get a facility to directly pay from their account for the services offered through the wallet (without pre-loading their wallet).
This arrangement will help customers retain cash in their account and use it only when a transaction is made unlike other instances where a wallet will require the user to maintain balance exclusively in the wallet. Once launched the Bank’s customers will be able to perform a variety of transactions across numerous merchants in just a click.
On the occasion, Ms. Shalini Warrier, Chief Operating Officer, Federal Bank said “This arrangement would empower customers to retain the funds with their accounts while enjoying the host of services available in the App. Bank is very keen on improving customer experience in the Digital space and will be coming up with lot more arrangements and innovations to excite the customers”.
Seen in the picture is Ms. Shalini Warrier, Chief Operating Officer, Federal Bank exchanging MOU with Mr. Raj Ahuja, CFO, Reliance Payments Solution Ltd. Mr. K A Babu, Head-Digital Banking, Mr. Johnson K Jose, Head-IT & Mr. Eqbal Manoj, Head-Planning from Federal Bank and Mr. Sridhar K, Head-Strategic Alliances-Banking from Reliance Jio Money were also present for the occasion.