Federal Bank here on Thursday said it has 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 leading private sector bank’s customers can complete a transaction without funding the wallet. The 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.