Vodafone brings money transfer & payment service ‘M-Pesa’ to India with ICICI Bank
Vodafone in association with ICICI Bank has launched ‘M-Pesa’ which is one of its most successful service in few African countries. It is basically a very innovative and unique money transfer and payment service from Vodafone. This service works through specially trained agents who work as intermediaries between the bank , mobile service provider and the customers. Customers are first required to register with these agents to be able to use host of services from M-Pesa. They will submit identity, address proofs and deposit a minimum amount along with it, to open their ‘M-Pesa’ account. Once the Mobile Wallet is activated then users can perform transactions like cash deposit, transfer money to any bank account, money transfer to any other ‘M-Pesa’ customer, recharge mobiles & DTH, pay mobile and utility bills. After documents verificaton & approved by Vodafone and ICICI Bank the customer can do other transactions viz. cash withdrawal and sending money to any mobile number.
It is initially being introduced 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.
Key Features – Vodafone M-Pesa
- 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
- Participate in e-commerce/m-commerce.
How to use Vodafone M-Pesa?
Step 1: Visit an ‘M-Pesa’ outlet
Step 2: Register with ‘M-Pesa’ agent & fill and submit a form, provide identity, address proofs and deposit a minimum amount
Step 3: Mobile Wallet ready to use – Deposit Cash, transfer money to any bank account or another ‘M-Pesa’ account holder, recharge mobile & DTH and pay mobile or utilities.
Step 4: Application and documents verified and approved by Vodafone and ICICI Bank – Now withdraw cash and transfer money to any mobile
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