M-Pesa in conjunction with vodafone’s mobile wallet has plans underway of launching out-cash services through M-Pesa also considering a pan-india network in the next couple of months.
Business head of M-Pesa at Vodafone, Sureth Seth said the pilot will commence sometime in April and the firm will define the parameters with time. The company has around 45,000 outlets which are complete business correspondent outlets offering all services.
“We are very selective on the outlets, because these outlets because this outlets have to have the ability of carrying cash , they have the ability of investing and carrying e-money, since these are the only two things I think the outlet need to have. That’s why outlet selection is critical,” said Mr. Seth.
It’s a markable milestone for mobile wallet to have a pan India distribution with up to a million customers currently as it prepares to launch in Chennai on March 24 with a close follow up with other states.
The telecommunication firm has to meet certain guidelines to offer money transfer and cash in cash out services and cannot go to any outlet selling e-recharge offering, considering telecoms manage banking activities that brings in strength of distribution with daily transactions involving millions of money.
The company is however aware of the challenges that are faced by a telecom in the mobile money services like anti-money lauding, making sure the funds are traceable.