Joining the bandwagon of startups and companies taking initiatives to help people in the cash-crunch phase, Vodafone India has announced to allow Vodafone M-Pesa customers to withdraw cash through their digital wallets from any of its outlets across the country.
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.”
Vodafone has 1,20,000 outlets across the country to garner its 8.4 million-plus Vodafone M-Pesa customers. Vodafone M-Pesa facilitates financial services on behalf of financial institutions to enable customers to get cash.
Noting that over 56 percent of these outlets are located in rural India, Sethi said “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 wallets at their own convenience. Further, our digital wallet too can be easily digitally loaded via credit/debit cards or net banking.”
Users just need to carry an identity proof to avail this facility at the M-Pesa outlet after which they can withdraw money subject to availability, in line with the Reserve Bank of India guidelines, the company said.
“Since the days of demonetization, M-Pesa has reported a 100 percent increase in its app download. Digital money transactions since have doubled too,” Sethi further added.