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Vodafone India, along with ICICI Bank, on Wednesday launched its mobile money transfer and payment service.
Called ‘M-Pesa’, the service was launched across the eastern states that include West Bengal (including Kolkata), Bihar and Jharkhand.
According to Marten Pieters, Managing Director and CEO, Vodafone India, the service will help achieve financial inclusion.
“Vodafone's low-cost distribution model can be used to leverage banking services in rural areas. It will bring about financial inclusion,’’ Pieters said here.
Under the M-Pesa scheme, customers need to have an M-Pesa account which can be made at various outlets.
Once an account is made, subscribers can deposit and withdraw cash from select outlets, transfer money within India, make payments to recharge, clear the utility bills and for DTH service among others.
Initially, the service (M-Pesa) will be restricted to remittances and later extended to other facilities.
“We hope that the money transfer solutions will be used by the huge migrant population here,’’ Pieters said.
According to Vodafone, of the 20 crore population in the eastern region, nearly 20 per cent (nearly 4 crore) is migrant.
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