Vodafone expands Indian M-Pesa coverage to the northeast

Details: James Barton; Category: Mobile Finance; 19 November 2013; 8015 views

The Indian branch of Vodafone has launched the operator’s M-Pesa mobile money and transfer service in Assam and other northeastern states, in partnership with ICICI Bank.

The group’s trademark service will “empower the unbanked and under-banked sections of the population gain access to financial services via mobile phone”, according to regional operations director Bjas Murthy.

The partnership leverages Vodafone’s extensive experience in the field of mobile payments and its strong presence in the Indian market with ICICI’s security of financial transactions. The service will be available in over 350 towns via a network of over 1,200 authorised agents, as well as over 90 Vodafone retail outlets in the region.

Pushpinder Singh Gujral, Business Head for Assam and the northeast, said: "'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, 'M-Pesa' will be the best way to send money back home."

M-Pesa business head Suresh Sethi added: “Using their 'M-Pesa' account, customers can at their convenience deposit and withdraw cash from designated outlets, transfer money to any mobile phone in the country and remit money to any bank account in the country.”