Payments Banks License: Vodafone MPesa Limited

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vodafoneSunil Sood, MD & CEO, Vodafone India says

“We are grateful to the RBI for giving us the licence for setting up a payment bank. With over 90,000 ‘M-Pesa’ agents, we are already providing people in remote areas a convenient way to, transfer money and make payments in a safe and secure manner. We have partnered with several government bodies to run pilots for enabling direct transfer of wages/subsidies. The payment bank licence will enable us to build on this further and offer a more comprehensive portfolio of banking and financial products and services, accelerating India’s journey into a cashless economy.”

 

“We remain committed to actualize the government’s vision of financial inclusion by leveraging the reach of mobile technology to service the unbanked and underserviced sections of the society.”