Vodafone on Tuesday announced the launch of Vodafone M-Pesa PAY, a digital payment solution for merchants and retailers to receive cashless payments from customers. The announcement by the telecom operator is another move by tech companies and service providers in India to boost the digital payments drive in India that received fresh impetus from the recent demonetisation initiative.
The company says that retailers and merchants will need to download the Vodafone M-Pesa app, which has been offering payment and money transfer options to end users for a while, and then register themselves as a merchant. They can then notify individual customers to make payments. Customers, also using the M-Pesa app, will receive a notification that will let them make the payment using their wallet balance, bank account, credit card, or debit card.
Launching Vodafone M-Pesa PAY, Sunil Sood, MD & CEO at Vodafone India said, "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. We started our journey towards enabling financial and digital inclusion in 2013 with the launch of Vodafone M-Pesa and have since made considerable progress by successfully establishing a franchise of over 8.4 million customers and nearly 1,30,000 outlets across the country."
"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," Sood added.