RIL plans global payments play via NUE

Reliance Industries’ proposed New Umbrella Entity (NUE) for payments services, in a consortium with Infibeam Avenue, Google and Facebook, has plans to make it a global payments player, said two people familiar with the matter.

The oil-to-retail conglomerate, which also runs Jio Payments Bank, will likely offer payment services overseas, probably pitting it against giants Visa and Mastercard in some markets if it gets the operating licence.