Vodafone decided expand his business
in association with banks in view to provide banking services to the rural
areas of the country.Now the Vodafone concentrating to
expand business in Andhra Pradesh and
Telangana states.During the April Vodafone launched a
product on the name of the M –Pesa in
Andhra Pardesh and Telangana state in association with ICICI bank and product
get good response and now the organization
sell the product on concentrating on villages , this was disclosed by Mandeep Singh Bhatia, business head of
Vodafone in-charge of the two states.He said it would enable a customer
to deposit and withdraw cash from designated outlets, transfer money to any
mobile phone in the country and remit money to any bank account. It can also be
used for recharging any prepaid mobile phone and to pay postpaid mobile bills
and for paying utility bills.Vodafone has appointed 3,826 agents
in Andhra Pradesh and Telangana and 64,000 in the country. "There are at
present 232 ICICI branches in AP and Telangana and we can appoint agents with
30 km radius of each branch. We are serving the rural areas as well. It is like
taking an ATM to each village," he said, adding that 1.5 lakh customers
were added every month for the service.Bhatia said more agents would be
appointed in the two states to take the service to remote areas as well. He
said tie-up with other banks may also be considered in future.He said M-Pesa was popular in Kenya
and in India also it was a very good tool for achieving financial inclusion. In
effect, Vodafone would be the business correspondent for the banks and it would
appoint agents to take banking to remote villages.
