‘M-Pesa', which is being launched initially in the eastern parts of the country, effectively leverages the combined strengths of Vodafone's global expertise in the domain of mobile payments and significant distribution reach in India plus the security of financial transactions provided by ICICI Bank.
It is initially being offered in Kolkata, West Bengal, Bihar and Jharkhand through over 8300 specially trained authorized agents and will soon be rolled out across the country in a phased manner, the bank said in the press release.
The innovative use of mobile technology makes it possible for customers to enjoy a fast, simple and secure way to transfer money and make payments. Using their ‘M-Pesa' account, customers can at their convenience:
· Deposit and withdraw cash from designated outlets
· Transfer money to any mobile phone in India
· Remit money to any bank account in India
· Make payments to recharge mobile, clear utility bills and for DTH service subscription
· Shop at select shops
· Participate in e-commerce/m-commerce.