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Vodafone launches M-Pesa

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Mobile operator Vodafone India today announced to roll out mobile money tranfer facility ‘M-Pesa’ in collaboration with ICICI Bank in Punjab 
mobilemoneyChandigarh: Mobile operator Vodafone India today announced to roll out mobile money tranfer facility ‘M-Pesa’ in collaboration with ICICI Bank in Punjab as part its plans to deepen its footprint pan India.

The company plans to tap education hubs, famous industrial clusters and defence personnel located across Chandigarh, Ludhiana, Jalandhar, Bathinda, Pathankot and Amritsar with the launch of its mobile money tranfer and payment service.

This service will be beneficial for students studying in different colleges in the state and customers to transfer money to any mobile phone, remit money to any bank account, make utility payments, recharge of mobile, DTH payment and earn interest on deposits.

“M-Pesa offers millions of people including unbankes and underserviced sections of society, basis financial services. Today, less than 5 per cent of villages in India have a banking outlet.

The subscriber will first have to deposit Rs 200 as registration fee.

This service will be available across 24 tehsils, 13 districts through 1,042 authorised agents including 44 Vodafone exclusive outlets in Punjab.

“M-Pesa is a safe, secure and convenient service to tranfer money and make payments beyond the reach of traditional banking channels. For households where the earning members migrate to larger cities for earning livelihood, it will be the best way to send money back home to their families,” said Shekhar.

“Financial inclusion is national priority. We believe that with M-Pesa we now have the ideal offering to facilitate the same across the country,” said Vodafone, Business Head M-Pesa Suresh Sethi said.

PTI

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