Vodafone India today announced a strategic alliance with ICICI Bank, India’s largest private sector bank for its mobile money transfer and payment service called ‘m-pesa.
Vodafone India through its 100% subsidiary, Mobile Commerce Solutions Ltd and ICICI Bank have finalized plans to launch mobile payment services this year, under the brand name ‘m-pesa’. This offering will comprise a mobile money account with ICICI Bank and a Mobile Wallet – issued by MCSL.
Earlier this service was launched by Vodafone in November 28th, 2011 in association with HDFC bank in Rajasthan circle.
According to Vodafone, the mobile payment service with ICICI bank will be launched initially in the eastern region of the country viz. Kolkata, West Bengal, Bihar and Jharkhand and then will be rolled out to other parts of the country in a phased manner.
This offering will give the Vodafone India’s customer a comprehensive service comprising :
- Cash deposit and withdrawal from designated outlets
- Money transfer to any mobile phone in India
- Range of mobile payment services including purchase of mobile recharge, recharge of DTH services and utility bill payments
- Money transfer to any bank account in India
- Payments at select shops