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Vodafone India Partners ICICI Bank To Finally Extend m-Pesa Service To India

It's taken ages but Vodafone India has finally launched its mobile money transfer and payment service 'M-Pesa' in India. The telco has signed a strategic alliance with ICICI Bank to extend the service to the country. Availability: While the financial details of the deal were not disclosed, Vodafone stated that it will be offering this service through its wholly owned subsidiary Mobile Commerce Solutions Ltd (MCSL) and the company intends to launch the service this year. The service will be initially launched in the eastern region including West Bengal, Bihar and Jharkhand among others, followed by a phased rollout in other parts of the country. There is currently no specific timeline for the service launch or any information on how one can register for the service. Offerings: As per the deal, Vodafone will be offering its customers a mobile money account with ICICI Bank and a mobile wallet issued by MCSL, through this service. The company noted that this service will allow customers to make cash deposits and withdrawals from designated outlets as well as make cash transfers to any mobile phone or any bank account in the country. The company claims to have a huge network of authorized agents who will enable customers to deposit and withdraw cash from their account, in a bid to offer last mile access to its customers in remote areas. Additionally, Vodafone noted that the service will also allow customers to shop at select merchant outlets and pay for various mobile services like mobile recharge,…

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