Vodafone to Push for Mobile-Phone Payment System in India
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Loading ...Vodafone Group Plc Chief Executive Officer Vittorio Colao wants to introduce a system for payments via mobile-phone in India because a large part of the rural population doesn’t have access to banking services.
“We have been trying to introduce mobile-phone money transfers in India for some time,” Colao said at a U.K.-India business conference in London today. “Unfortunately, so far we haven’t succeed because of a set of rules and constraints, but I’ll continue to push for it.”
Global phone companies such as Vodafone, France Telecom SA and Nokia Oyj are introducing offerings that allow money transfers with the help of mobile phones in emerging markets. Mobile-money in emerging markets could ring in $7.9 billion of sales for operators by 2012, according to the GSM Association, an industry group in London. Vodafone already offers mobile payment systems in some African countries.
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