Vodafone and ICICI Bank launched M-Pesa, a mobile money transfer and payment service, in Rajasthan.
The service will be available across 195 tehsils in Rajasthan through over 3,000 trained authorized agents.
The company’s mobile money payment platform is receiving attraction from several villages in India, where the service is launched. Vodafone and ICICI Bank are expanding M-Pesa to help 700 million Indians who had no access to conventional banking.
“M-Pesa is a safe, secure and convenient service to transfer money and make payments beyond the reach of traditional banking channels. For households where the earning members migrate to larger cities for earning livelihood, M-Pesa will be the best way to send money back home to their families,” said Jayesh Gadia, business head, Vodafone India.
Vodafone is one of the world’s largest providers of mobile payment services through M-Pesa. Vodafone and ICICI Bank will launch M-Pesa across the rest of India in phases. Today, less than 5 percent of villages in India have a banking outlet.