Unlike Paytm, Vodafone's M-Pesa is allowing you to withdraw cash using your phone
While most of the country still suffers, 20 days after demonetization, it is great to see that alternatives have already started springing up.
From digital wallets bringing up more merchants online to banks declaring turning villages into digital economies, solutions have started being implemented.
Unlike Paytm wallet,
To avail, customers need to carry an identity proof to their nearest
Vodafone M-PESA currently has the largest business correspondent network in the country. According to the company, the distribution network of M-Pesa is almost equal to the total Banking presence in India.
RBI has granted “in-principle” approval to Vodafone M-Pesa for setting up a
ALSO READ: EXCLUSIVE:The startup investor at India Quotient reveals the most lucrative sectors for investment
AdvertisementIn 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,
Image credits: ICICI Bank
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