Mukesh Ambani-Mark Zuckerberg partnership will upend payments sector: Experts

BENGALURU: The Reliance Jio-Facebook partnership is expected to upend the digital payments sector, crowd out small players and drive consolidation, fintech experts said.

Facebook-owned instant messaging platform WhatsApp and telecom operator Jio plan to work with 30 million corner stores across India to help them transact digitally with customers in their neighbourhood. The companies will then extend the digital payment service to farmers, teachers, students and small and medium-sized enterprises.