Federal Bank has inked 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.
