RBI cancelled CoA of Vodafone m-pesa after the voluntary surrender of the authorisation

07:00:00 PM, Wednesday 22nd of January 2020 | in business

RBI cancelled the certificate of authorisation of Vodafone's m-pesa, a PSO & said the company had voluntarily surrendered the authorisation. Vodafone m-pesa was one of the 11 firms that got a licence from RBI in 2015. After this cancellation, the firm cannot transact the business of issuance & operation of prepaid payment instruments. But, customers having a valid claim can approach the company for settlement within 3 years.