wordpress blog stats
Connect with us

Hi, what are you looking for?

, ,

Vodafone Launches M-Pesa In India With ICICI Bank

It's been five months since they announced the partnership, and now Vodafone India today announced the official launch of its M-Pesa mobile money transfer and payment service in India, in partnership with ICICI Ban. The service is initially being launched in Eastern India, and is being offered in Kolkata, West Bengal, Bihar and Jharkhand through over 8300 authorized agents. The national rollout will be in a phased manner, and M-Pesa will allow 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, DTH service subscription, shop at select shops and use it for e-commerce/m-commerce. In response to a query from MediaNama for a list of merchants for e-commerce/m-commerce, a Vodafone India spokesperson said that they can't yet share a list since this is a work in progress. It's worth noting that m-Pesa for Vodafone India is essentially bank led - unlike Kenya, where it began as an alternative to banking, in India, it's had to go through regulatory compliance requirements which essentially mandate that it be backed by a bank account. Back in 2009, Vodafone had mentioned difficulty in launching M-Pesa in India because, as Nick Hughes, then Vodafone's head of mobile payments had said, "Regulators won’t allow any mobile payment scheme. India has said you have to be a licensed bank." Customers will have to visit an M-Pesa agent outlet, fill up a form, provide identity…

Please subscribe/login to read the full story.
Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

Free Reads

News

During a recent discussion organized by the Council for Strategic and Defence Research, Berges Malu, the senior director of public policy and communications at...

Drones Drones

News

Once the system receives the required validation, five more such MDVs will be introduced into the Commissionerate Police fleet

News

The lure of Grok AI to Premium X Subscribers might let Musk salvage the decline in the social media usage in recent times.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ