African mobile banking success inspires India

Posted on April 17, 2013  /  0 Comments

Vodafone and ICICI Bank have jointly launched the globally acclaimed mobile money service called M-Pesa. It has hit global headlines after Vodafone launched M-Pesa in 2007 in Kenya. The service is now available in eight countries including Tanzania and the Democratic Republic of Congo. Marten Pieters, Managing Director and CEO of Vodafone India, said:

“For millions of people in India, a mobile phone is a bank account, a front door to a micro-business or a lifeline to people in the remotest areas. Research shows that M-Pesa brings real benefits to users in their daily lives, saving three hours a week of their time and around $3 in money transfer costs – a significant amount to people in some areas.”

Following a successful trial, the service will be offered initially through more than 8,300 M-Pesa agents in eastern areas of India, including West Bengal, Bihar and Jharkhand, covering a population of around 220 million people.

Cellular News reports.

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