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Jio Money Case Study

Offering Jio Money Case Study

About the Customer

Launched in 2016 by Reliance Jio Infocomm Limited, a subsidiary of Reliance Industries Limited, Jio Money is a digital wallet and payment services company based in India. It provides a wide range of financial services, including bill payments, mobile recharges, money transfers, and online shopping.

Jio Money allows users to link their digital wallets with their bank accounts and use them to pay for various services and products. The company offers exciting cashback rewards and special discounts to its users. Accessible through a mobile app, Jio Money enables smooth transactions via mobile phones. Additionally, the company offers robust customer support services, including a 24/7 helpline and online chat support.

As a leading company in India’s rapidly growing digital payments industry, Jio Money has become a popular choice among customers seeking fast, convenient, and secure payment options.

Project Details

The client wanted to develop a secure payment gateway for businesses using smartphones. The solution needed to be user-friendly and comply with industry standards and regulations, such as the Payment Card Industry Data Security Standard (PCI DSS), to ensure the safety and security of transactions and sensitive customer data.

Industry

Fintech

Services

Design, Development & Launch

Problem

According to a report by Statista, the global digital payment market size is expected to reach over $8 trillion by 2024, highlighting the growing importance of digital payment solutions.
The use of smartphones as POS devices has become increasingly popular, with a Deloitte study revealing that 60% of consumers have used their mobile devices to make payments in physical stores.
However, security concerns around mobile payments are a significant barrier to adoption, with a PwC survey revealing that 85% of consumers are concerned about the security of mobile payments.
Developing a secure payment gateway for businesses using smartphones as POS devices required advanced technology and expertise in encryption and secure data transfer.
The solution also needed to be user-friendly, with a simple interface that allowed merchants and customers to make and receive payments quickly and easily.
Compliance with industry standards and regulations, such as PCI DSS, was essential to ensure the security of payment transactions and protect sensitive customer data.

Our Approach

The Jio Money Merchant App was developed to address the challenges faced by businesses. This app served as a secure gateway for payment interactions between customers and merchants.
The app provided a user-friendly interface, making it easy for merchants to accept payments and for customers to make payments.
The Web Axn server was designed to automatically detect the capabilities of the end customer’s handset, ensuring the right content was served to the client for a seamless user experience across different devices.
The transaction server was designed to decrypt track 2 message/chip data and re-encrypt it using payment processor encryption, ensuring payment information was secure and protected from unauthorized access.

Benefits

Easy Payment Method: The Jio Money Merchant App provided an easy payment method for merchants and customers.

EMV Card Reader: The app enabled merchants to accept payments from customers using chip-enabled credit and debit cards, providing an additional layer of security for payment transactions.

Mobile Pay Gateway: The app allowed customers to make payments using their mobile devices, making it easy for customers to make payments on the go without the need for cash or credit/debit cards.

Increased Revenue: The app enabled businesses to accept payments from customers using their smartphones, which made the payment process more convenient for customers, resulting in increased revenue for businesses.

Improved Customer Satisfaction: The seamless user experience provided by the app improved customer satisfaction. The app was designed to be user-friendly and easy to use, making the payment process more efficient and convenient for customers.