Vodafone India in association with ICICI Bank has introduced its mobile money transfer and payment service called ‘M-Pesa', the service was launched across the eastern states that include West Bengal (including Kolkata), Bihar and Jharkhand.
According to Mr. Marten Pieters, Managing Director and CEO of Vodafone India, the service will help achieve financial inclusion in eastern areas.
"Vodafone's low-cost distribution model can be used to leverage banking services in rural areas. It will bring about financial inclusion,'' Mr. Pieters said.
Under the M-Pesa scheme, customers need to have an M-Pesa account which can be made at various outlets.
Once an account is made, subscribers can deposit and withdraw cash from select outlets, transfer money within India, make payments to recharge, clear the utility bills and for DTH service among others.
Initially, the service (M-Pesa) will be only restricted to remittances and later extended to other facilities.
"We hope that the money transfer solutions will be used by the huge migrant population here,'' Mr. said Pieters.