Telecommunications giant Vodafone India has announced the extension of its mobile money service ‘M-Pesa’ to the Western Indian state of Goa.
The company has stated that the expansion will allow its 640,000 customers across the state to carry out banking operations via mobile.
By means of the application, users will be able to use their smartphone to transfer money from their account, pay utility bills and make cash deposits and withdrawals from designated outlets.
The provision of ‘M-Pesa’ will be handled by Vodafone India in conjunction with Mumbai-based ICICI bank. The partnership between the two has already led to the service being implemented across other areas of India, including Delhi, Mumbai and Lucknow in August 2013.
Ishmeet Singh, business head (Maharashtra-Goa) of Vodafone India, said in a statement "This service empowers the unbanked and under-banked sections of the population gain access to financial services through mobile phone".
In particular, the company revealed it believes the service could prove particularly popular among the quarter of a million migrants it serves in the region, primarily due to its potential use for remittance processing.