Jio Payments Bank has partnered with fintech platform Ezeepay to strengthen last-mile digital banking services across rural and semi-urban areas of India.
The partnership was announced in May 2026 and aims to improve access to essential banking services through local merchant outlets operating as Business Correspondents (BCs).
About the Partnership
- Jio Payments Bank is a subsidiary of Jio Financial Services.
- Under the agreement Ezeepay will function as a Business Correspondent (BC) for Jio Payments Bank.
- The collaboration focuses on:
- Financial inclusion
- Rural banking accessibility
- Expansion of digital payment infrastructure
Main Objective of the Partnership
- The key objective is to Expand banking services in underserved rural and semi-urban regions
- The initiative seeks to provide:
- Convenient access to banking
- Cash withdrawal and deposit services
- Digital payment solutions at local merchant points
Banking Services Offered
- Under the partnership, Ezeepay’s merchant network will offer Aadhaar Enabled Payment System (AEPS) Services
- Customers can:
- Withdraw cash
- Deposit cash
- Access banking services using Aadhaar authentication
UPI-Based Cash Withdrawal
- The partnership will also enable Unified Payments Interface (UPI)-based cash withdrawal services
- These services will operate in accordance with Reserve Bank of India (RBI) guidelines.
What is AEPS?
- AEPS stands for Aadhaar Enabled Payment System. It is a bank-led model in India that allows online interoperable financial transactions at Point of Sale (MicroATM) through the Business Correspondent (BC) of any bank using Aadhaar authentication.
- The system is designed to empower all sections of society by making financial and banking services available through Aadhaar.
About Business Correspondents (BCs)
Business Correspondents are individuals or entities authorised by banks to:
- Provide banking services on behalf of banks
- Operate in areas where traditional branches are limited
They help improve:
- Banking penetration
- Financial literacy
- Accessibility of banking services
Conclusion
The partnership between Jio Payments Bank and Ezeepay marks another important step in expanding digital banking and financial inclusion across India. By leveraging Ezeepay’s merchant network and digital payment technologies, the collaboration aims to strengthen last-mile banking access and support the country’s transition towards a more inclusive digital financial ecosystem.