Demonetization Effect: Now withdraw Cash from Vodafone M-pesa Outlets - chaprama | Insights from the world of Technology and Lifestyle

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Thursday, November 24, 2016

Demonetization Effect: Now withdraw Cash from Vodafone M-pesa Outlets

Demonetisation has a tremendous impact on the lives on common people as can be evidenced from the long queues outside the banks and ATMs to exchange old notes of Rs 500 & Rs1000.But it is boon for digital wallet providers like Paytm, Mobikwik and others, which showed a staggering raise in payment transactions. 

Now most of the small scale business run solely using the wallet transactions. Although you can make payments using this system,there is no facility available  to withdraw cash from the wallets. Now Vodafone has come up with a move that will surely eliminate this barrier.

Vodafone M-pesa
Vodafone M-pesa

Vodafone in its latest statement said that it will allow 8.4 million m-pesa customers to withdraw cash from their 1,20000 digital wallet outlets across the country.This was explained in detail by Suresh Sethi ,business head of Vodafone m-pesa. It is a quick, secure and helpful approach to transact on mobile conveyed to you by Vodafone, through its completely claimed a Vodafone m-pesa Limited (VMPL) in relationship with ICICI Bank.

This will be a huge relief for  m-pesa customers and eliminate the need to wait in queues for hours outside ATMs and Banks.One more thing to note is that most of the outlets, almost 56% are situated in rural India.      


Customers can visit any of the outlets and use this facility to withdraw cash from their digital wallets. Also, customers can load money in their wallets through net banking or debit/credit cards. However,  you need to carry a valid identity proof to withdraw cash at nearest m-pesa outlet subject to availability of cash in line with RBI guidelines.

Source:Gizmodo

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