Vodafone launches m-pesa mobile money transfer service with ICICI bank

British mobile giant Vodafone and India’s leading private lender ICICI Bank tied up  to launch mobile money transfer and payment service m-pesa in the country. Telco’s trademark service which is available in six countries including Kenya and Tanzania, will allow mobile phone users deposit cash and withdrawals from designated outlets as well as make cash transfers to any bank account or mobile phone across the country. The service will also allow customers to purchase from select merchant outlets and recharge their mobile phones and DTH connections. Consumers can also make payments for utilities using the service. Both companies did not disclose financial details of the tie-up. Vodafone’s wholly owned subsidiary Mobile Commerce Solutions Ltd will offer the service which will be launched this year beginning from West Bengal, Bihar and Jharkhand. A phased rollout in other parts of the country will follow but the company did not disclose any timeline. Customers registering for the service will get avail a mobile money account with ICICI Bank and a mobile wallet issued by MCSL.

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