Jio Payment Bank, is an internet-based debit bank owned by Reliance Industries Ltd, its headquarters in Mumbai, India.
It launched its services in 2021. Payment banks in India formerly were a special category of financial bank which could not issue other forms of credit such as credit cards but could accept deposits made by customers.
Deposits generally refers to money kept in an account and is usually held in an offline form.
As part of an ongoing effort by the company to enhance customer services, Jio Payment bank has launched its online banking facility.
1. Fast and easy to used
The process of opening an account using the bank’s website is fast and easy, thanks to integrated software that the bank uses for it. Online transactions are safe and secure because they use top-level encryption technology. In addition, customers can also use their debit cards or credit cards to make purchases.
To make online payments even simpler, a virtual terminal is available, which operates on a web browser and is accessible from any location where an internet connection is available.
2. Debit Card Facility
A customer needs to have a Jio payment bank debit card in order to make online purchases. This is because without a debit card, a customer cannot access the payment services offered by the bank. Another option is a pre-paid credit card that can be purchased at a Jio store, or online. The payment details entered on the debit card will be converted into the equivalent currency used at the POS machine.
3. Payment options
There are different payment options available for customers. One option is the credit card payment, which is one of the fastest and simplest methods of payment. Customers can choose this option when they want to pay for the goods they bought using their Jio payment bank account.
4. Electronic funds transfer
Electronic funds transfer is another form of payment processed at the Jio stores. By using this service, customers can easily transfer money from one place to another. The bank sends an electronic transaction receipt (ETR) after the transfer has been made. Electronic funds transfer is free of cost for most customers.
5. Jio store Option
A Jio store can also accept PayPal as a mode of payment. PayPal is a global payment system that allows its users to accept all major credit card and electronic transfers worldwide. Jio can also process PayPal payment for its customers.
6. Savings account
In case a customer has money in his account but does not have a debit card, he can opt for the second best option, a savings account. A customer can deposit money into his savings account and he can use this money to pay for the goods he bought using his Jio card. Savings accounts are absolutely free of cost for most customers. Customers who do not have a bank account can still get a debit card. The debit card serves as a virtual account and the customer can use it for making purchases.
7.online Customer Support
To make things simple, Jio even provides online help to its customers. Its online website contains FAQs and frequently asked questions. The website also offers information on different payment options, their benefits and any drawbacks. Most importantly, it contains the contact details of customer service professionals so that a customer can contact them if he needs any further queries about Jio payment bank. Since there are several banks with which customers can choose from, it is advisable to compare their terms and conditions to pick the best one for you.
8. Provide gift cards
Jio payment bank also has an online store where the customer can buy anything he might be interested in.
The store sells gift cards, gift wrapping paper and various other consumables that can be used at the store.
The Jio store is easy to find since it offers multiple payment options including the popular MasterCard and Visa. There is also a link located in the store where a customer can directly enter his credit card number.
After entering the card information, a Jio representative will confirm the details and then process the payment. Once the transaction is processed, a confirmation email will be sent to the customer’s email address so he can check his transactions and payments.
9.customer care Contact Support
A customer care phone number is also provided on the website for customers who might need further assistance. Most banks provide a customer care phone number but Jio seems to be different. The customer care phone number is only provided if the customer wants his concerns to be directed to them instead of being left on the phone. This gives customers the sense that they are not just talking to a bank employee but a person whom they can speak to should something go wrong with their cards. For this reason, Jio is definitely a bank most customers will choose to do business with.
10. No any Annual fees
One more reason customers like Jio is because they do not have to pay any annual fees or monthly fees in order to use their services. All they need to pay out is a one-time transaction fee. Even though It’s service fees may seem minimal compared to some other banks, it is still a very good deal considering the amount of service they provide to customers. Aside from their excellent customer care and convenient services, customers also have the advantage of doing business with a bank that does not require them to carry all the cash they may have. With all these benefits, there is no reason why anyone should avoid dealing with a Jio payment bank.