A few months ago, Reliance Jio joined hands with social media giant Facebook. According to the report, Facebook has acquired 9.9 per cent stake in Geo for Rs 43,564 crore. Following Mark Zuckerberg’s huge investment in the Geo platform, the two companies jointly announced their support for Small and Midsize Business (SMB) in India. The announcement was made by the two companies at the first Facebook Fuel for India 2020 event recently. They claim that this will benefit more than 60 million small and medium enterprises. At the same time, the Facebook CEO also shared their thoughts on the upcoming WhatsApp Pay service in India.
Standing at the first Facebook Fuel Summit, 2020, Facebook CEO Zuckerberg heard a tone of self-confidence. “Through Facebook, we help a lot of small and medium businesses,” he said. Today, about 60 million people across the country depend on us for their business and livelihood. These small and medium businesses are all major partners in our agreement with Reliance Jio. ”
Zuckerberg added that as a result of the agreement, Jio and Facebook will also work on improving various SMBs, providing their businesses with all the help they need to grow. These small and medium-sized traders have been severely affected, especially during the Covid-19 overcrowding. Many of them have been forced to continue buying and selling online due to infections and lockdowns. As a result, they need the most help right now.
Meanwhile, Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, “Through our (Jio and Facebook) partnership, we will help small and medium enterprises continue to do business digitally. In that case, these two organizations will become a value creation platform for customers and entrepreneurs. ”
The Facebook Fuel Summit event also lauded the extraordinary foresight of Indian entrepreneurs. In this case, Facebook CEO Zuckerberg has called India a ‘special country’. Realizing the importance of India’s huge market, the Facebook CEO is hopeful of spreading their Whatsapp Pay service in this country. WhatsApp Pay has recently been approved by the National Payments Corporation of India or NPCI. Since then, they have started rolling out the service to around 400 million users.
Last month we launched Whatsapp Payment service in India. With this you can easily send money to your friends, relatives and others. Its UPI system is made in India. As a result, the exchange of money will be as straightforward and hassle-free as sending a message here. Zuckerberg, the head of Facebook, has made this claim very strongly.