Reliance Jio Might Join Hands With Facebook To Launch Super App: Report

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Facebook is likely to partner with Reliance Jio to develop a new super app in India. The new application will allow users to do the shopping and make payments, similar to WeChat. It is also expected that the upcoming app will allow users to play games, reports ET.

Reliance Jio Might Join Hands With Facebook To Launch Super App

 

In addition, the app will allow its users to buy groceries via Reliance Retail, ajio.com, and JioMoney. In fact, the report claims that the app will allow you to make hotel payments. The application is specially designed for business to consumers. The report also pointed out that the discussions have been delayed due to coronavirus pandemic.

"The negotiations are being compartmentalized. So, someone working on the commercial side wouldn't know what's happening on the technology or the financial aspects of the deal," sources close to the development was quoted by Economic Times.

However, there is no confirmation from the Reliance Jio side. "This is going to be a defining partnership, and it's not just a financial investment. The deal is about creating value and a business that would differentiate both Facebook and Reliance," said another person.

Furthermore, the reports said that there are chances that both will form a new company. It's also said that only Facebook will invest in Jio and Reliance Retail. "A new company could be created - where both the players could invest, or Facebook could invest in Reliance Jio and Reliance Retail, and that is the way the partnership could be formed for the new venture," sources were quoted by the newspaper.

Meanwhile, Reliance Jio has extended the validity of prepaid plans until May 3, 2020. Besides, the announced double data benefits for its broadband customers. Apart from that, Jio has introduced an app called JioPOS, where it is offering four percent commission to its users.

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