It was today once again Mukesh Ambani took the center stage after three months and announced Jio's future. At the same time, he even revealed that the company is extending the welcome offer until March 2017.

Along with this news, he also announced a new app exclusively designed for merchants. The app is similar to that of Jio Money. However, it will be a lot more in favour to merchants and is named as 'JioMoney- Merchant'.

Also Read: These 5 Features of the Reliance JioMoney App Will Make You Download It Right Away

Speaking about the same, Mukesh Ambani said that- "To enable digital transactions, merchants, especially small traders, are a critical component of our economy. To fuel their sales, Jio is working to empower Indian merchants by building a digital retail ecosystem, which we are calling Jio-Money Merchant Solutions,"

The application will be released to respective app stores on December 5, and any merchant over the country can download the app and start using it.

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Furthermore, he quoted that "Customers can use their JioMoney wallets to pay merchants from their bank accounts, and retailers can use the Jio-Money Merchant App to accept these payments directly into their bank accounts,".

Moreover, merchants with JioMoney app on their side can transfer the money to their respective bank account with ease and vice versa.

So, what do you think of this new initiative from Mukesh Ambani? Will this take on the Paytm and Freecharge? Let us know in comments section below.

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