Vodafone Idea May Hive Off M-Pesa To Comply With RBI

Vodafone Idea May Hive Off M-Pesa To Comply With RBI

SUMMARY

RBI bars a promoter from owning a prepaid payments business and a payments bank separately

Vodafone and Idea Cellular merged in August 2018

The joint entity posted a consolidated loss of INR 4,882 Cr in Q1 2019

After the merger of Vodafone and Idea went through in August 2018, the joint entity became India’s second largest telco. However, a legal challenge arose with the functioning of the payment interfaces of both companies.

To address this challenge, Vodafone M-Pesa, Vodafone’s fully-owned payment platform is considering merging with its associate, Aditya Birla Payments Bank, or a third party. The plan to find takers for M-Pesa was announced during Vodafone Idea’s fourth-quarter earnings call on Monday.   

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.