On Tuesday, Vodafone announced the launch of M-Pesa PAY, a digital solution to better enable merchants and retailers to accept cashless payments.
In India, there is a global drive to promote digital payments, and the recent industry news by Vodafone is another move by tech companies to follow along.
According to the company, merchants will have to download the Vodafone M-Pesa app, which has been previously available as a way to offer transfer options to end users. Merchants will then need to register themselves as such. The customers, who will also be using the new M-Pesa app, will receive a notification whenever a payment is required.
Customers will be able to pay in numerous ways, either by using their wallet balance, their credit or debit card, or their bank account.
Sunil Sood, CEO at Vodafone India, commented that they are fully committed to playing their role of fulfilling the government’s vision of a cashless economy. He went on to say that they started their journey towards enabling digital payments back in 2013, when Vodafone M-Pesa was launched for end user use. According to his words, they have made incredible progress ever since.
Currently, their franchise has over 8.4 million customers and almost 1,30,000 outlets across the country.
Sood added that they are accelerating their journey by launching M-Pesa PAY. Essentially, they will be creating a merchant platform that allows easy digital payments. Sood believes this will encourage customers to make their payments digitally.