Vodafone has added cash withdrawal capability to its M-Pesa outlets spread across India. This comes just at the moment when the banks and ATMs of the country are reeling under the immense pressure created by demonetization. More than 8.4 million Vodafone M-Pesa customers can now withdraw cash from over 1,20,000 M-Pesa outlets in India.
The freshly announced initiative is another third party attempt after Big Bazaar to ease out some pressure from the banking system of the country. This is excellent news for the Vodafone M-Pesa users who would now need to put on a lot less effort to encash their money. About 56 percent of the total number of M-Pesa outlets are located in the rural region, which will hugely benefit the under-developed areas in India.
How to Withdraw cash using Vodafone M-Pesa?
In order to withdraw cash from M-Pesa, you simply need to visit your nearest outlet along with a valid Govt. photo ID proof. You can encash the required amount right from your digital wallet balance in Vodafone M-Pesa. The company has officially announced that the procedure and limit will be strictly based on the latest RBI guidelines.
The digital wallet balance can be loaded up through credit or debit card or internet banking. Using the balance, you may even send money to your friends or family, make online purchases, pay bills, etc. This facility adds to the uniqueness of Vodafone M-Pesa in comparison to the other popular mobile wallets like Paytm or Freecharge etc. The latter are simple digital wallets, while the former features core banking facilities.
Vodafone’s M-Pesa is making the use of today’s advanced mobile technology to bring the banking facility right into your hands. The latest initiative of the company shall be certainly a notable USP to bump up its brand image. Commenting on the launch, the Business Head of Vodafone M-Pesa, Suresh Sethi said,
“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. Over 56% of these outlets are located in the rural India, enabling last mile disbursement in the hinterland. Our 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.”