Earlier yesterday, Vodafone India announced that it wouldallow its 8.4 million-plus Vodafone M-Pesa customers to withdraw cash through their digital wallets from any of its over 120,000 outlets across the country. With the increasing inconvenience caused among in the country in lieu of the ban of Rs.500 and Rs.1000 currency notes, the company said it has made this service available in order to support the central government’s ‘bold step’ of demonetization.
To avail the cash withdrawal facility, customers need to carry an identity proof to their nearest Vodafone M-Pesa outlet from where they can withdraw money, subject to availability, in line with RBI guidelines. Vodafone said over 56% of these 1,20,000 outlets are located in the rural India, enabling last mile disbursement in the hinterland. The customers can visit any of these outlets and use the unique cash out feature of Vodafone M-Pesa to withdraw cash from their digital wallet at their convenience.
“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. Since the days of demonetisation, M-Pesa has reported a 100% increase in its app download. Digital money transactions since have doubled too “
-Suresh Sethi, Business Head, Vodafone M-Pesa
The Vodafone M-Pesa wallet can be used to shop online, pay bills and remit money to family and friends. Also adding to the fact is the convenience of walleteasily digitally loaded via credit or debit card or net banking.