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 quarter ended December 31st 2014. The company reported a decline in total number of active customers, down 8.9% quarter on quarter to 0.337 million, from 0.37 million users in the previous quarter. As much as 86.5% of its registered M-Pesa base is inactive.
Vodafone increased the number of sales agents for mPesa to 85,000, up from 79,000 in the previous quarter. 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.
– 78,000 transactions/day means around 7176000 transactions over the 92 days in the quarter. This indicates that there were around 21 transactions per active customer during the quarter
– Net additions of registered users during the quarter: 400,000, down from 600,000 last quarter.
– Net registered users added per sales agent: 4.7, down from 7.5 last quarter.
M-Pesa Bharat BPO tie-up
In September last year, Vodafone India had signed a strategic partnership with Bharat BPO, a Spice Digital group company to integrate M-Pesa as one of the payment options for Bharat BPO’s SMS railway ticket booking service. Following this partnership, Vodafone M-Pesa customers could send in their booking details either via SMS or through the 139 Railways Reservation app on Android or Java and enter their ‘M-PIN’ to authorize the transaction. More on that here.
Other players in this segment include Airtel Money that had reported an active base of 1.7 million for Q4-FY14, but has stopped providing data related to its India business ever since. Idea Cellular’s mobile money service Idea Money also went live in July this year. The service is currently live in Mumbai with plans to extend this service to other cities in a phased manner in FY15.
Tata DOCOMO has a license through its wholly owned subsidiary MMP Mobi Wallet Payment Systems and had partnered with ICICI Bank for mRupee money transfer and payment service while Reliance Jio which has a pan-India unified license had received a mobile wallet license for a prepaid payment instrument called ‘Jio Money’ in November 2013.
Disclosure: Airtel is an advertiser with MediaNama