Vodafone, India’s leading telecom service provider has joined hands with ICICI Bank to ‘M-Pesa’ - a mobile money transfer and payment service in the eastern region of the country.
The customers using their ‘M-Pesa’ account can deposit and withdraw cash from designated outlets, transfer money to any mobile phone in India, remit money to any bank account in India, make payments to recharge mobile, clear utility bills and for DTH service subscription, shop at select shops and participate in e-commerce/m-commerce.
It is being initially launched in Kolkata, West Bengal, Bihar and Jharkhand through over 8300 specially trained authorized agents and will soon be rolled out across the country in a phased manner.
Marten Pieters, Managing Director & CEO, Vodafone India said, “Using ‘M-Pesa’, we will provide people in remote areas a convenient way to bank, transfer money and make payments in a safe and secure manner. We have customized our offering to serve the needs of Indian customers while ensuring its compliance with all applicable regulations. Financial inclusion is a national priority and we believe that with ‘M-Pesa’, we now have the ideal offering to enable the same.”
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