Jio Payment Solutions gets RBI approval operate as digital payments app: What it means for users

Jio Payment Solutions, a wholly-owned subsidiary of Mukesh Ambani-led Reliance Group firm Jio Financial Services, has received the central bank’s approval to operate as an online payment aggregator, Jio Financial said on Tuesday.
The certificate of authorisation is effective from October 28. It permits the subsidiary to manage digital transactions in compliance with Section 7 of the Payment and Settlement Systems Act, 2007. Jio Financial was spun out of the Ambani-led Reliance Group last year.