M-Pesa in Romania and Egypt

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 Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. With bank approval, additional services, like money transfer and cash withdrawal are also possible.

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.