Vodafone India announced on 29 January that it will roll out mobile money transfer facility ‘M-Pesa’ with ICICI Bank in Punjab.
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The move is part of Vodafone India’s plan to increase its expansion in the country.
Asit Shekhar, business head at Vodafone India said: "M-Pesa is a safe, secure and convenient service to transfer money and make payments beyond the reach of traditional banking channels.
"For households where the earning members migrate to larger cities for earning livelihood, it will be the best way to send money back home to their families."
The money transfer facility will allow customers to transfer money to any mobile phone, remit money to any bank account, make utility payments, recharge their mobile, make direct to home payments and earn interest on deposits.
The subscriber will need to deposit INR200 ($3.19) as registration fee and will be charged INR10 per transaction for payment of utility bills.
The facility will be available across 24 administrative divisions, 13 districts through 1,042 authorised agents including 44 Vodafone exclusive outlets in Punjab.
Suresh Sethi, Vodafone, business head at M-Pesa said: "Financial inclusion is national priority.
"We believe that with M-Pesa we now have the ideal offering to facilitate the same across the country."
The rollout of M-Pesa in Punjab follows rollouts of Delhi, Mumbai, Kolkata, Assam and Goa among the others.
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