Vodafone today announced that its 8.4 million plus M-Pesa customers can withdraw cash using their digital wallet from any of the over 120,000 Vodafone M-Pesa outlets across the country, subject to availability. To avail the cash withdrawal facility, customers need to carry an identity proof to their nearest Vodafone M-Pesa outlet from where they can withdraw money, subject to availability, in line with RBI guidelines.
Vodafone M-Pesa leverages the reach of mobile technology, effectively bringing the bank to the mobile. In addition to enabling financial inclusion and offering the convenience of a digital wallet for easy transactions, its unique cash out feature makes it the ideal for all users, enabling them to digitise cash, remit it to family and friends, pay bills and/or withdraw it at their convenience.
Announcing the new cash withdrawal facility, Suresh Sethi, Business Head, Vodafone M-Pesa, said:
Vodafone M-Pesa customers do not need to stand in long queues outside ATMs and bank branches for cash. We have invested in building a nationwide network of over 120,000 M-Pesa outlets, equivalent to the numbers of bank branches in the country. Over 56% of these outlets are located in the rural India, enabling last mile disbursement in the hinterland. Our customers can visit any of these outlets and use the unique cash out feature of Vodafone M-Pesa to withdraw cash from their digital wallet at their convenience. Further, the Vodafone M-Pesa digital wallet too can be easily digitally loaded via credit or debit card or net banking.
Additionally, the Vodafone M-Pesa wallet can also be used to shop online, pay bills and remit money to family and friends. Such comprehensive features, a nationwide distribution and service network and the unique cash out facility make Vodafone M-Pesa the ideal digital wallet for masses.