[caption id="attachment_128686" align="aligncenter" width="550" class=" "] By Raidarmax (Own work) [CC BY-SA 3.0], via Wikimedia Commons[/caption]Update: On the concall, company CFO Nick Reid said about the Payments Bank license application: "We (currently) have a semi closed system, where we can pay money in, but not do a cash out. The agent has to go to the bank to cash out. That is a key constraint. The payments banks license allows us to cash out, and there will be a network effect." Earlier: Vodafone India’s mobile payment service M-Pesa 0.37 million users for the quarter ended September 30, 2014, registering a modest 23% growth from 0.3 million users in the previous quarter. Note that Vodafone has applied for a Payments Bank license with the Reserve Bank of India, along with 40 other companies, including telecom competitors like Airtel*, Idea Cellular and Reliance Industries. The Reserve Bank of India had also renewed Vodafone's PPI license in November. In terms of registered users, M-Pesa claims to have 2.1 million registered users for the quarter as against 1.5 million registered users in the previous quarter and 1.2 million registered users in the quarter before. The company also mentions that the service is now available through 79,000 sales agents, up from 66,000 in the previous quarter and 60,000 sales agents in the quarter before. Note that Vodafone had completed the pan-India rollout of M-Pesa in March this year, about one year since its India launch and about 16 months after the initial announcement. Vodafone India’s mobile payment service M-Pesa reported 78,000 transactions per day for the…
