Federal Bank is launching a one-click payment service jointly with Reliance Jio Money. The two entities have signed an agreement under which Reliance Jio Money’s mobile wallet application, which is to be launched shortly,will have a direct payment option for Federal Bank customers.

• Through this service, the bank’s customers can complete a transaction without funding the wallet as they will get a facility to directly pay from their account for the services offered through the wallet.

• This arrangement will help the bank’s customers retain cash in their account and use it only when a transaction is made unlike other instances where a wallet will require the user to maintain balance exclusively in the wallet.

• Shalini Warrier, COO of the bank said this arrangement would empower customers to retain the funds with their accounts while enjoying the host of services available in the app.