Federal Bank and Reliance Jio Money join hands for one-click payment service

Federal Bank, the Indian commercial bank based in Kochi, has signed an agreement with wallet application Reliance Jio Money for one-click payment service. The app will soon be launched for mobile devices and Federal bank will be enabling a direct payment option for its customers.

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This agreement would allow its customers to transact without funding the wallet, by directly paying from their account for the services that the wallet offers. Through this arrangement, customers will be able to retain cash in their account and use it only when they actually pay for something. Generally, users are required to feed money in their wallets, which could be lying there when not used.

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"This arrangement would empower customers to retain the funds with their accounts while enjoying the host of services available in the App. Bank is very keen on improving customer experience in the digital space and will be coming up with lot more arrangements and innovations to excite the customers," Shalini Warrier, COO of Federal Bank told ET.

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