Don’t Wait in Atm’s Queue withdraw cash Using Vodafone’s M-Pesa
Vodafone India, committed to supporting the Government’s bold step to accelerate India’s progress into a less cash economy, today announced a unique cash out facility for its 8.4 million plus Vodafone M-Pesa customers who can withdraw cash using their digital wallet from any of the over 120,000 Vodafone M-Pesa outlets across the country.
From digital wallets bringing up more merchants online to banks declaring turning villages into digital economies, solutions have started being implemented. Unlike Paytm wallet, Vodafone M-Pesa is like a banking agent, which facilitates financial services on behalf of others to enable a customer to go to specified outlets and get cash of same worth if they need it.
To avail, customers need to carry an identity proof to their nearest Vodafone M-Pesa outlet from where they are able to withdraw money in line with RBI guidelines. 56% of M-Pesa outlets are in rural areas so the impact of demonetisation will be lessened on M-Pesa users.
In emerging market like India, where many consumers have access to mobile devices but no access to a bank account, Vodafone M-Pesa enables financial inclusion and offers convenience of a digital wallet for easy transactions, its unique cash out feature enables users to digitise cash, remit it to family and friends, pay bills and/or withdraw it at their convenience.
Vodafone M-Pesa has also partnered with several government bodies for enabling direct transfer of wages and subsidies – M-Pesa is enabling last mile Government Subsidy distribution and is actively engaged with multiple state governments in the direct benefit transfer of subsidy, pension and salary disbursement under Janani Suraksha Yojana, MNREGA, Pension Transfers, Health Mission (NRHM), MNREGA, Pension disbursements in Haryana and Tie-up with Rajasthan Grameen Aajeevika Vikas Parishad (RGAVP)