JioOnePay – Payment Solutions – Jio Platforms Limited
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JioOnePay- Payment Solutions
Problem
- Large-scale products do not want a dependency on any particular Payment Gateway and want to achieve the highest transaction success rate.
- Customers are looking for new-age alternate payment options.
- The complexity of integrating and maintaining multiple payment gateways causes a hassled checkout process and a poor mobile payment experience.
- Technical issues or gateway problems causing payment failures.
- Ensuring protection against cyber threats and data breaches
Solution
- JioOnePay has integrated with India’s leading Payment Gateways, Banks, UPI Applications, NBFCs, Wallets, and Buy-Now-Pay-Later (BNPL) providers.
- Provided merchant acceptance solutions that help businesses adopt new-age digital payments, enabling them to accept payments from various sources seamlessly.
- Transformed itself into an in-house product capable of competing effectively in the market with a focus on improving functionality and cost-efficiency.
- Did an internal business model transformation by moving from a service mindset to a platform mindset.
- Simplifies the payment landscape, making it easier for both businesses and customers to conduct transactions.
Outcomes
- JioOnePay enables digital payments for over 30 merchants, both within the Reliance ecosystem and in external partnerships.
- Merchants no longer have to exchange Excel sheets and save offers reports from the dashboards.
- Reduced organisation’s reliance on external payment providers to meet digital payment needs.
- Evolved into a revenue-generating model, providing Reliance with a robust competitive advantage.
- Reduced hiring of multiple technology teams integrating and replicating work already done at JioOnePay.
- Merchants can retain and acquire more customers to their platform, and the platform provides an affordability suite that helps to attract higher volumes.
SKOCH Award Nominee
Category: Services – Corporates
Sub-Category: Services – Corporates
Project: JioOnePay – Payment Solutiions
Start Date: 2023-04-12
Organisation: Jio Platforms Limited
Respondent: Mr Tarun Kamra, Associate Vice President
https://www.jio.com/
Level: Club Star
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Case Study
JioOnePay- Payment Solutions
JioOnePay independently addresses the primary digital payment requirement for all online commerce and service applications within the Reliance ecosystem. JioOnePay helps businesses adopt new-age digital payments and give customers a good purchase experience. It is integrated with India’s leading Payment Gateways, Banks, UPI apps, NBFCs and wallets. JioOnePay aims to unify payment options for businesses and provide a seamless, reliable experience.
Problem
Large-scale products want to be independent of any specific payment gateway. Customers were looking for alternative payment options for the new age, cardless EMI, in a seamless integration for business continuity. The challenges faced were changing the mentality of focusing only on solutions for the telecommunications business and preparing the product for the market. The complexity of integrating and maintaining multiple payment gateways leads to a complicated payment process and a poor mobile payment experience. How to safeguard customer data against cyber threats and data breaches also became paramount.
Solutions
JioOnePay provides several merchant acceptance solutions and has integrated with India’s leading Payment Gateways, Banks, UPI apps, NBFCs, Wallets & BNPL providers. JioOnePay uses a rapid prototyping development approach that focuses on quickly creating and testing early versions of a product or system. It simplifies the payment landscape, making it easier for both businesses and customers to conduct transactions.
Outcomes
It enabled digital payments for over 30 merchants, both within the Reliance ecosystem and in external partnerships. The capabilities of this payment solution extend further with the provision of intuitive transaction dashboards, robust analytics tools, an enticing offers engine and an affordability suite. This portal empowers new entities to exchange relevant information and customise their payment pages, significantly reducing the operational workload and cut costs.
Summary
JioOnePay is a versatile payment solution, functioning like a highly efficient router intricately interwoven with various payment processors. It serves as a comprehensive answer to the multifaceted digital payment needs of today’s online commerce and service applications within the Reliance ecosystem and beyond.
For more information, please contact:
Mr Tarun Kamra, Associate Vice President at tarun.kamra@ril.com
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