BackVodafone launches e-wallet M Pesa Pay for retailers
The feature replaces the need for point of sale machine since it is a face-to-face transaction where the merchant sends the request to the customer for payment
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Mumbai: Vodafone India launched Vodafone M Pesa Pay on Tuesday in a bid to enable merchants and retailers to receive payments from their customers. Existing M Pesa customers can use their wallets to make payments.
The new feature replaces the need for point of sale (PoS) machine since it is a face-to-face transaction where the merchant sends the request to the customer for making a payment.
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The Reserve Bank of India (RBI) last month increased the limit on e-wallets to Rs20,000 from Rs10,000 earlier. For merchants the limit stands at Rs50,000. For consumers who have given their know your customer details, the digital wallet limit stands at Rs1 lakh.
The company plans to leverage on its 1.30 lakh business correspondents in order to expand these services.
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