Vodafone and HDFC Bank partnered to launch HDFC Bank Mobile bank account for Vodafone customers in India. This new mobile money service named Vodafone M-PAiSA™ allows users to perform banking related transactions using their mobile phone as a medium. The initiate from the leading GSM mobile service provider in India is powerful tool that even allows to deposit and withdraw cash, at appointed Vodafone m-paisa™ outlets, without having to go to bank branches.
Rajasthan is the first state in India to experience the power of M-PAiSA™ Mobile money service. over 2,200 retailers across 320 villages and 54 towns are already operational in opening HDFC Bank MobileBank Accounts. The transaction which include Cash deposits, Withdrawals, Money Transfers and Balance Enquiry are successful.
Mr. Sunil Sood, Director – Business Operations, Vodafone India, says, "Vodafone m-paisa is a pioneering initiative modeled on the lines of Vodafone’s m-pesa product running in three different countries of Africa, offering more than 17 million people, basic financial services, beyond the reach of traditional banking. With Vodafone India’s reach and ability to connect to customers, we expect many million people to come into the banking fold through Vodafone m-paisa in the coming years. We are pleased to work with HDFC Bank, as partners, to jointly offer our products to our customers”