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Vodafone launches M-Pesa Pay: Encouraging Merchants to go Digital

Telecom giant Vodafone has announced the launch of Vodafone M-Pesa PAY on Tuesday. M-Pesa PAY is a digital payment solution for retailers and merchants to receive cashless payments from customers. This move from the telecom operator is another initiative towards digital payments drive in India. Many new schemes and digital payment methods were observed in the country with the recent demonetization effect.

Vodafone says that the merchants and retailers should download the Vodafone M-Pesa app in their mobiles for using it. The app offers payments and money transfer options to users for a while, and then they register themselves as a merchant. The app also allows merchants to notify individual customers to make payments. Customers also get a notification which let them make payment with their bank account, wallet balance, debit card or credit card.

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“With the launch of Vodafone M-Pesa PAY, we are accelerating this journey by creating a platform for merchants and retailers to easily embrace digital payments and also encourage their millions of customers to pay via digital currency,” says, Sunil Sood, MD & CEO at Vodafone India. “The Hon’ble PM has set forth the vision of a Digital India and a less cash economy. As a responsible corporate citizen, we are fully committed to playing our role in fulfilling this vision.” Sood added.

Commenting on the launch, Sood also explained few more things in detail about the app. Vodafone has started its journey towards enabling financial and digital inclusion back in 2013. The company has successfully established a franchise of more 8.4 million customers and nearly 130000 outlets across India.

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The Reserve Bank of India (RBI) increased the limit on e-wallets to Rs 20,000 from Rs 10,000 last month. The limit is extended up to Rs 50000 for merchants and up to Rs 1 Lakh for consumers who have given their KYC details.

Vodafone Press Release: Vodafone M-Pesa App Company Launched for Cash Withdrawal from ATMs

Are you facing problem to withdraw cash from ATMs? Still, you didn’t get money from ATM? Don’t worry guys. Vodafone M-Pesa is here for you to withdraw cash from ATM across India. So, you no need to spend your time to stand in long queues at ATM centers. Just download the M-Pesa app and draw the cash.

Backing the Government’s bold decision of Demonetisation. Vodafone India has come up with a new facility to reduce cash crunch for the public. The company has announced new cash out service for its more than 8.4 million customers who can withdraw money using their digital wallet from over 1,20,000 outlets across the country.

The new initiative has been taken by the company to minimize cash crunch to accelerate Country’s progress into a less cash economy.  Speaking about the new scheme, Suresh Sethi, Vodafone M-Pesa business Head said “Vodafone M-Pesa customers no need to stand in long queues outside ATM centers or banks to get your cash. Our users can visit any of the M-Pesa outlets and use the cash out feature to draw cash from their digital wallet.”

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He said, “Digital wallets can be digitally loaded via credit card or debit card or net banking free of cost. You can use this M-Pesa wallet can also use to shop online, pay bills and send money to family and friends.”

Customers who wish to take out money need to carry their ID proof to the nearest Vodafone E-Pesa outlet and receive the amount “Subject to Availability.” Apart from his, customers can use this M-Pesa wallet to pay bills, DTH services and mobile recharges. The Vodafone M-Pesa App can be available to download for both Vodafone and non-Vodafone customers. The company also said that over 56% of these outlets located in the rural India.

PM Narendra Modi announcement on the ban of 500 and 1000 notes on November 8 led to serious problems for the common public. Demonetisation of currency showed a huge impact on business persons and retailers. Many retailers said that their business almost decreased due to notes crisis and that caused serious problems for both people and merchants.

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Yesterday, Former Prime Minister Manmohan Singh said the movie was monumental and mismanagement. He also said that he didn’t agree with the decision took by the Modi Government. And the GDP of the country would shrink by two percentage with the demonetisation.

How to withdraw money from Vodafone M-Pesa Outlets? Here is the Step by Step Procedure

  • 1st Step: Dial *400#
  • 2nd Step: Select Option
    • Send/Withdraw Money
  • 3rd Step: Select ‘Withdraw.’
  • 4th Step: Enter the agent number of your nearest m-Pesa
  • 5th Step: Enter your amount for withdrawal
  • 6th Step: Enter Your Unique M-Pesa PIN number
  • 7th Step: Click Confirm – On clicking this option, you can receive an SMS confirmation of the transferred amount. There are no additional charges for a limited period.

For More News Update: Techfactslive

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