TABcab, a radio taxi service in Mumbai, has tapped Vodafone M-Pesa mobile payment service to enhance the proportion of cashless transactions.
Vodafone M-Pesa has distribution of more than 120,000 agents and more than 5 million customers across India.
Customers travelling by TABcab can pay their cab fare through m-pesa money transfer service. In addition, drivers — currently 2,000 — employed by TABcab can pay their daily deposit through 4,000 collection centers using MPesa mobile banking service.
Vodafone M-Pesa has recently received in-principle approval for a payment bank license issued by RBI to providing services like savings, deposit, payment and remittances to shoppers.
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