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Vodafone and ICICI Bank extend M Pesa mobile wallet service to Delhi and NCR

Vodafone and ICICI Bank extend M-Pesa mobile wallet service to Delhi and NCR

By Anupam Saxena | Updated: 25 March 2014 23:32 IST

Vodafone India has launched its mobile money transfer and payment service, M-Pesa, in Delhi and NCR, in collaboration with ICICI Bank.

According to Vodafone, the service will now be available through 1400 specially trained authorised agents and across 130 Vodafone exclusive retail stores in Delhi and NCR region.

Through the M-Pesa service, users will be able 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 mobiles, clear utility bills and for DTH service subscription, shop at select shops and use it for e-commerce/m-commerce transactions.

The service was initially announced in November 2012 when Vodafone India through its 100% subsidiary, Mobile Commerce Solutions Ltd. ("MCSL") had inked a strategic alliance with ICICI Bank for M-Pesa. Vodafone offers mobile payment services across the world under the 'M-Pesa' brand. It was later launched in Kolkata, West Bengal, Bihar and Jharkhand through over 8,300 authorized agents, in April.

Highlighting the relevance of 'M-Pesa' for the residents of Delhi/NCR, Subrat Padhi, Business Head -Delhi, Vodafone India said, "Vodafone is always at the forefront to introduce innovative products and services that enrich the lives of our customers. We are delighted to bring to Delhi, 'M-Pesa', a world class mobile banking service, in partnership with ICICI Bank. 'M-Pesa', is a safe, secure and convenient service to transfer money and make payments beyond the reach of traditional banking channels. For households where the earning members migrate to larger cities for earning livelihood, 'M-Pesa' will be the best way to send money back home to their families."

Added Suresh Sethi, Business Head - M-Pesa, Vodafone India, "Vodafone is the world's largest and leading provider of mobile payment services through 'M-Pesa', which offers millions of people including the unbanked and under-serviced sections of society, basic financial services. Today, less than 5 percent of villages in India have a banking outlet. Financial inclusion is a national priority and we believe that with 'M-Pesa', we now have the ideal offering to facilitate the same across the country in compliance with all applicable regulations."

To register for the service, 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. Following the registration, Vodafone will activate the MCSL Mobile Wallet for the customer who will be able to use it as a closed wallet and make a variety of transactions including cash deposits, transferring money to any bank account, transferring money to any other 'M-Pesa' customer, recharge mobiles and DTH connections, and pay mobile and utility bills. The customers will also be able to withdraw cash and send money to any mobile number once the documents are verified and approved by MCSL and ICICI Bank. They'll also be able to pay online retailers.

(For details on service charges and limits, read - Vodafone India launches M-Pesa mobile wallet with ICICI Bank)

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