M-Pesa to start pilot on cash out services, looking at pan-India network

Monday, March 17, 2014

M-Pesa, the mobile wallet service of telecom major Vodafone, plans to launch out-cash services. A pilot programme will be launched soon, under which customers will be able to withdraw money from M-Pesa outlets.

Suresh Sethi, business head of M-Pesa at Vodafone, told Business Standard: “The pilot will be starting some time in April. We will be defining the pilot parameters as we go down the line.”

The company has about 45,000 business correspondent outlets offering all services including enrollment for M-Pesa services, cash-in and cash-out, Sethi said.

Source: Business Standard (link opens in a new window)

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branchless banking, financial innovation, mobile finance, mobile money