Following the decision made by Prime Minister Narendra Modi by demonetization of Rs 500 and Rs 1000 currency notes in India have caused inconveniences and hardships for the common man. But the e-wallet platforms have to provide the offers to their customers. Reliance digital platform JioMoney has also joined in the list.
Digital Wallets like PayTm and FreeCharge has already witnessed a surge after the announcement of the controversial move. The Mukesh Ambani-owned Reliance Infocomm has come up with the cashback offer, i.e., 10% cashback for its users through digital platform JioMoney. Customers can avail a 10% cashback with JioMoney on shopping at Reliance Fresh and Reliance Smart stores.
JioMoney is the digital application developed by the Reliance Infocomm which is used to pay utility bills, recharge mobile phones, online payment, transfer money to the bank and online shopping and many more features.
“Customers who essentially use cash for shopping can also avail the cashback by utilising the cash loading points inside each store to pay via JioMoney and earn the cashback of 10 percent on the total invoice. The cashback will be credited within two working days,” said by the officials.
The customers who shop with cash can also avail this 10% cashback by the procedure of money loading points added to your JioMoney, and also they can earn the cashback of 10 percent of total invoice. The cashback will be credited to the respective accounts.
Reliance Infocomm also allows the customers to transfer the loaded unused amount in the JioMoney to their bank accounts. “Users, however, can use the money loaded at over 50,000 online merchants and 70 plus billers. So essentially, the money will be utilised in due course in making cashless payments for utilities, bill payments, insurance payments, e-commerce transactions and offline store payments,” said the source.
The Reliance Jio rivals, Bharti Airtel, Vodafone and Idea Cellular, are expected to see a 45-50% growth in their respective mobile wallet transactions.