Vodafone and ICICI Bank launches Mobile Payment Service m-Pesa

Major telecom operator Vodafone and country’s leading private sector bank ICICI today announced launch of mobile payment services “m-pesa”. Initially, Vodafone will launch m-pesa mobile payment service in the eastern region of the country viz. Kolkata, West Bengal, Bihar and Jharkhand ; followed by rest of the country in phased manner.

The partnership between Vodafone and ICICI Bank effectively leverages the strengths of Vodafone’s significant distribution reach and the security of financial transactions provided to customers by ICICI Bank. These services are made convenient using a vast network of authorized agents who will enable the customer to deposit and withdraw cash in and from their account. By facilitating banking transactions at such agent locations, this alliance effectively delivers the last mile access in remote areas.

Chanda Kochhar and Marten Pieters -Vodafone India -ICICI Bank strategic alliance

Vodafone m-pesa will enable:

  • Cash deposit and withdrawal from designated outlets
  • Money transfer to any mobile phone in India
  • Range of mobile payment services including purchase of mobile recharge, recharge of DTH services and utility bill payments
  • Money transfer to any bank account in India
  • Payments at select shops
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