Vodafone's latest innovation converts digital money into hard cash

If you are tired of queuing up at ATMs and are despairing because you are unable to access your own hard-earned money, here’s some good news for you.

Cellular service provider Vodafone is now allowing M-Pesa users to encash their digital wallet balance into physical cash at about 130,000 touch points across India. M-Pesa is Vodafone’s mobile wallet service that has 8.4 million active customers.

M-Pesa Pay, built on top of the existing app, has an ‘agent locator’ feature that helps you find your nearest M-Pesa agent who can offer you cash in exchange of digital money. The withdrawal limit is in line with that of banks — Rs 2,000 ($30) per user per day.  Read more...