India’s private sector lender ICICI Bank and telecom major Vodafone have launched mobile money transfer and payment service called M-Pesa in Assam and other North Eastern states in the country.
Vodafone operations director, Bjas Murthy, was quoted by the Economic Times, as saying that M-Pesa will offer the unbanked and under-banked sections of the population with access to financial services through mobile phone.
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M-Pesa will leverage the combined strengths of Vodafone’s global expertise in the mobile payments domain in India including the security of financial transactions provided by ICICI Bank.
Customers using the account can now easily deposit and withdraw cash from designated outlets, transfer money to any mobile phone and remit money to any bank account in the country.
Additionally, M-Pesa account allows users to make payments to recharge mobile, clear utility bills, pay DTH service subscription, and shop at select shops as well as e-commerce/m-commerce, reported the news agency.
Vodafone business Assam and North East head Pushpinder Singh Gujral, the service will now be available in over 350 towns, 130 Tehsils, 40 districts through more than 1,200 specially trained authorised agents and across 91 Vodafone exclusive retail and mini stores in Assam and the Northeast.
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By GlobalData
