Vodafone & ICICI Bank launch money transfer and payment service ‘M-Pesa’ in Mumbai.

Telecom major Vodafone in association with ICICI Bank has introduced its mobile payment and money transfer service ‘M-Pesa’ in Mumbai circle. ‘M-Pesa’ serves unbanked population with the help of mobile phone in offering money transfer and payments. Vodafone will deliver these services via 1400 trained authorized agents in Mumbai. This service allows customers to

  • 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 M-Pesa works?

Vodafone customers need to visit an ‘M-Pesa’agent outlet, fill up a form, submit identity, address proofs and deposit a minimum amount along with it, to open their ‘M-Pesa’ account. The MCSL Mobile Wallet gets activated immediately and the customer can do a variety of 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. Once the documents are verified and approved by MCSL and ICICI Bank the customer can do other transactions viz. cash withdrawal and sending money to any mobile number.

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