Vodafone partners with ICICI Bank to offer m-pesa
Moneylife Digital Team 08 November 2012

Vodafone and ICIC Bank's new service m-pesa will help Indians with money transfer and wide range of mobile payment services and m-commerce 

 
Vodafone India said it partnered with ICICI Bank to launch mobile money transfer and payment service, m-pesa. The new service will comprise a mobile money account with ICICI Bank and a mobile wallet issued by Mobile Commerce Solutions Ltd (MCSL) a unit of Vodafone India.
 
"m-pesa will allow us to provide basic banking services to millions of customers spread across the country. This will help us reach out to segments that currently do not have access to banking services, towards our objective of achieving greater financial inclusion," said Chanda Kochhar, Managing Director& CEO, ICICI Bank.
 
Vodafone in a release said, m-pesa will give the customer a comprehensive service comprising: 
Cash deposit and withdrawal from designated outlets
Money transfer to any mobile phone in India
Range of mobile payment services including purchase of mobile recharge, recharge of DTH services and utility bill payments 
Money transfer to any bank account in India
Payments at select shops 
 
The mobile payment service will be launched initially in the eastern regions of the country like Kolkata, West Bengal, Bihar and Jharkhand and then will be rolled out to other parts of the country in a phased manner.
 
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