Romania and Egypt are next to receive Vodafone’s e-wallet.
The idea behind M-Pesa is that a Vodafone customer who wishes to make purchases online, pay bills and so on, will go to an M-Pesa outlet, fill in a form providing proof of identity and address and deposit money, at which point the mobile wallet will be activated and ready for mobile payments. With bank approval, additional services, like money transfer and cash withdrawal are also possible.
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Not long ago, Payment Magnates reported on the launch of M-Pesa in Rajastan, following previous take-offs in Kenya and various locations in East India. It has been promoted as a necessary service in romote areas where banking presence and internet access are scarce and inconvenient, thus filling a payment gap in the market for under-developed countries and cities.