Mukesh Ambani-promoted Reliance Jio’s partnership with Uber, the American cab-hailing company announced on Monday, signals a larger battle in the mobile wallet space where Paytm leads with over 160 million users. In a statement, Reliance Jio said that it will offer exclusive incentives for people who opt to use JioMoney, the mobile wallet app, for Uber payments. The mobile wallet business has surged after demonetisation which sucked out 86% of India’s currency in circulation. More than five million wallet users were added in the wake of demonetisation. A lot will depend on how Jio incentivises Uber users,” said Sanchit Vir Gogia, CEO and chief analyst, Greyhound Research.

Source: Hindustan Times February 20, 2017 14:37 UTC