Vodafone India has extended the mobile money service, M-Pesa to merchants and retailers with M-Pesa Pay, a digital payment system that enables them to receive payments from their customers without any exchange of cash.
Vodafone M-Pesa launched in India during 2013 and has brought financial and digital inclusion to more than 8.4 million Indians. The service now boasts around 130,000 outlets across the country, both in major towns and increasingly in remote areas.
Retailers and merchants in India simply have to download the Vodafone M-Pesa app and register for Vodafone M-Pesa Pay as a merchant. Once registered, they can notify individual customers to make payments using their M-Pesa wallet, bank account or debit / credit card in a completely seamless, worry free and secure manner.
We’re launching a cross-country drive in both urban and rural areas to educate and sign up retailers, merchants and their customers with M-Pesa Pay.
It’s the latest digital payment success story for Vodafone M-Pesa in India since we launched, with many notable, groundbreaking projects developed in collaboration with government and the development sector.
The direct transfer of benefits is now live in 10 Indian states, ensuring that genuine beneficiaries receive their subsidy, pension or support promptly and in full. M-Pesa has enabled cash collection for Water Health India across 450 locations in Andhra Pradesh, Telangana, Gujarat, Karnataka and Tamil Nadu. India’s largest rugs manufacturer, Jaipur Rugs, relies on us to ensure artisans get paid for their work. Elsewhere, we’re distributing, collecting and digitising loans in 22 locations for partners including Bharat Financial Inclusion and Muthoot MFI.
We believe that M-Pesa Pay will play a significant role in fulfilling Prime Minister Modi’s vision of a Digital India and a ‘less cash’ society.
Suresh Sethi has been business head of Vodafone M-Pesa in India since November 2012. He has 26 years’ broad experience in the financial services industry.
M-Pesa powers Indian pension pilot
Vodafone’s mobile money service M-Pesa is at the heart of a pioneering scheme to directly pay thousands of pensioners in remote rural villages across Haryana state in Northern India.
Read the blog post.
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