Mobile wallet service Vodafone M-Pesa has entered into a partnership with Punjab State Power Corporation Limited (PSPCL) to facilitate instant payment of electricity bills.
"Vodafone M-Pesa's partnership with the PSPCL bridges the need for a simple, timely and cashless electricity bill payment solution through the mobile phone," said Arvind Vohra, operations director at Vodafone M-Pesa.
He said that Vodafone has more than 3,000 outlets (or CashIn Points) including Vodafone company owned stores, franchisees and multi-brand outlets in Punjab.
The bill payment touchpoints are available across the state, including at all 31 Vodafone brand stores in Punjab.
Vohra said that customers across segments can access M-Pesa on a smartphone by downloading or by dialing a USSD short-code from any phone including any feature phone.
This facility is aimed at driving financial inclusion further along with providing the State Electricity Board subscribers in Punjab the benefit and comfort of making payments instantly. As an added benefit, new users of M-Pesa can earn 5% cashback on the payment made through the mobile application, with a cashback of maximum Rs 50 each month for a period of three months.
"We are delighted to facilitate payments via M-Pesa, safe, fast and convenient way of bringing bank to the mobile. From process automation to instant and secure transaction, we are confident M-Pesa will bring transformational benefits to the people in Punjab and further drive financial inclusion in the state," said Suresh Sethi, business head of M-Pesa.
With a pan-India distribution network of over 120,000 CashIn Points and with more than 5.4 million customers, Vodafone M-Pesa is the largest banking business correspondent in the country, he said.