With Jio Finance, Indians May Now Enjoy a Cashless Experience in Paris

JioFinance

Nitin Konde, Apoorva Bajj

Aug 9, 2024 — 2 min read

With Jio Finance, Indians May Now Enjoy a Cashless Experience in Paris

On Tuesday, in conjunction with the Olympic Games in Paris, Jio Financial Services launched its JioFinance app worldwide. The corporation has made this smart decision to accommodate the large number of tourists, particularly those from India, who are visiting the city.

Using the JioFinance app, customers may pay digitally at popular Parisian attractions. On the official website, Indian travelers can purchase tickets for the Eiffel Tower and also shop at the world-renowned Galeries Lafayette department store using it.

India House, a Parisian tribute to Indian tradition and culture, was created by the Reliance Foundation in collaboration with the Indian Olympic Association; the firm has set up shop there as well. Here, guests may check out JioFinance's app in action at an experience center the company has put up.

VISA and JioFinance Joined Hands for This Initiative

With the help of Visa, the official payment partner of the 2024 Paris Olympics, JioFinance plans to improve the digital banking experience for customers in India. The app's main features include a digital bank account, easy bill pay and recharge, rewards, insurance broking, and a consolidated view of an individual's holdings across all of their bank accounts. It also offers instant UPI payments and more.

According to the filing, "We're proud to announce the entry of the JioFinance app in the French capital, making it convenient for Indian travelers to transact digitally at key Parisian landmarks."

The Goal Behind Developing JioFinance

An all-inclusive digital banking experience is what the JioFinance app aims to provide. "Our goal at JioFinance is to provide all Indians with a superior digital experience throughout their entire financial journey," the business stated.

According to an official statement released by the company, the application is designed to accommodate users with varying degrees of experience with financial technology, making it possible for them to effortlessly manage their finances at their fingertips.

JioFInance provides several features, including instant UPI payments, a fully digital bank account, wallet services, bill payment and recharges, rewards, insurance broking, and a single-window view of an individual's holdings across all of their bank accounts.

Other Ventures of JioFinance

To provide wealth management and broking services in India, Jio Financial Services and BlackRock, a US-based firm, announced earlier this year that they have formed a 50:50 joint venture.

Digital insurance for cars and two-wheelers, loans against mutual funds, and intentions to investigate property and security loans are some of JFS's other recent offerings.

Jio Financial Services' net profit for the June quarter was INR 312.63 crore, up from INR 310.63 crore in the previous quarter. As compared to the same period last year and the quarter ending March 31, the company's overall income for the quarter ending June 30 was INR 417.82 crore, up from INR 414.13 crore.