Airtel, Vodafone seek payment banking permits in India Norways Telenor and British telecom major Vodafone are set to apply for payment banking permits in India, with people with knowledge of the matter saying that they are in discussions for roping in a local partner each since current guidelines dont allow foreign entities to fully own a payment bank. Telecom operators are the ideal candidates to set up these payment banks, given their significant customer base in rural areas and well-entrenched distribution networks. Vodafones payment banking experience in Africa and Asia might give it a leg up among applicants. Safaricom, a Kenyan telecom operator partly owned by Vodafone, is widely considered as the biggest success story of mobile banking in developing countries.
Posted on: Sat, 24 Jan 2015 10:44:11 +0000
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