Vodafone Launches M-Pesa Pay To Boost Digital Payment

by CXOtoday News Desk    Dec 13, 2016

vodafone

Vodafone India today announced the launch of Vodafone M-Pesa Pay, an additional feature to its digital payment solution for merchants. The digital wallet allows merchants and retailers to receive digital payments from their customers. Both feature phone and smartphone users can avail the facility on M-Pesa Pay. 

Vodafone M-Pesa is available both as an app and also in USSD mode via short code *400# for all mobile phone subscribers to access and use. In order to use the digital payment solution, merchant simply have to download the Vodafone M-Pesa app and register for Vodafone M-Pesa pay as a merchant. Once register, they can notify individual customer to make the payment due. Customers just need to click on the notification and make payment digitallly using the M-Pesa wallet, bank account, debit card or credit card in a secure manner. 

Launching the app, Sunil Sood, MD and CEO of Vodafone India said that Vodafone M-Pesa is a big boon for rural India and is helping the rural people to get government benefits. “ M-Pesa is an unique app that is ideal for domestic remittance. Today, there are only 5 percent banks present in the rural India. We are targeting the population which is yet to connect with banks and we are already very strong with Vodafone M-Pesa in this space.” 

According to the claims of the company, nearly 8.5 million people are on the platform of odafone M-Pesa with over 1 lakh agents working pan India. The company closed the mark of Rs 860 crore in September 2016. 

Vodafone has partnered with the state governments such as Rajasthan and Haryana to transfer the benefits of government schemes like MGNREGA to the beneficiaries. It has also collaborated with small and medium enterprises such as Muthoot Finance, Prabhat Dairy etc. to digitize their entire distribution and payment system. 

It may be recall that post the announcement of demonetization, Vodafone India had come up with a new “cash out” facility for Vodafone M-Pesa customers who will now be able to withdraw cash from the 1,20, 000 Vodafone M-Pesa outlets across the country. Customers need to carry an identity proof to their nearest M-Pesa outlet from where they can withdraw money, subject to availability, in line with the Reserve Bank of India guidelines.