HDFC Bank and Vodafone India have launched HDFC Bank MobileBank Account with Vodafone m-paisa from the tehsil of Chomu, on the outskirts of Jaipur, Rajasthan in India. The service, which will be first available in Rajasthan, will enable users to withdraw, send or deposit money from their mobile phones.
Selected Vodafone retailers will act as HDFC’s sub-agents and users can get a m-paisa account opened from participating retailers. They can then deposit or withdraw money by visiting them.
Mobile Money is a popular service in some African countries including Kenya, Ghana, Uganda and South Africa.
In Rajasthan, the first state, where this national partnership has been implemented, over 2,200 retailers across 320 villages and 54 towns are already operational in opening HDFC Bank MobileBank Accounts with Vodafone m-paisaTM. Transactions include cash deposit, cash withdrawal, money transfer and balance enquiry.