{"id":152883,"date":"2019-07-31T00:12:54","date_gmt":"2019-07-30T16:12:54","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=251733"},"modified":"2019-07-31T00:12:54","modified_gmt":"2019-07-30T16:12:54","slug":"vodafone-idea-abandons-m-pesa-after-bank-failure","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/2019\/07\/31\/vodafone-idea-abandons-m-pesa-after-bank-failure\/","title":{"rendered":"Vodafone Idea abandons m-Pesa after bank failure"},"content":{"rendered":"<p>        \tVodafone Idea CEO Balesh Sharma announced the company would close its m-Pesa business alongside the Payments Bank previously operated under the Idea brand, with the operator instead hunting for partners in the financial technology space, The Economic Times (ET) reported.<\/p>\n<p>During the company\u2019s fiscal Q1 media call [1] the executive reported the economic model for the Aditya Birla Idea Payments Bank had become unviable and, in addition to winding-up that unit, the formerly Vodafone-run m-Pesa business would also be shuttered. The two divisions were in the process of being merged [2].<\/p>\n<p>Sharma attributed the decisions to regulatory changes for the banking business and deterioration of the telecommunications sector.<\/p>\n<p>He did, however hint the company was not giving up on mobile financial services completely, with the operator actively looking for partners in the sector.<\/p>\n<p>The company booked a INR2.1 billion ($30.5 million) impairment charge for the collapse of both business units.<\/p>\n<p>Abitya Birla Idea Payments Bank was part of a scheme by Indian authorities to increase access to financial saving services, though similar services from Bharti Airtel and Paytm have also faced difficulties, with both forced to suspend services [3] by regulators for a period during 2018.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/vodafone-idea-stays-in-red-despite-integration-progress\/<br \/>\n[2] https:\/\/www.mobileworldlive.com\/money\/news-money\/vodafone-idea-explores-m-pesa-merger\/<br \/>\n[3] https:\/\/www.mobileworldlive.com\/featured-content\/money-home-banner\/paytm-pushes-payments-bank-after-ban-ends\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vodafone Idea CEO Balesh Sharma announced the company would close its m-Pesa business alongside the &#8230;<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mobileworldlive.com\/money\/news-money\/vodafone-idea-abandons-m-pesa-after-bank-failure\/\">Vodafone Idea abandons m-Pesa after bank failure<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mobileworldlive.com\/\">Mobile World Live<\/a>.<\/p>\n<p> <a href=\"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/2019\/07\/31\/vodafone-idea-abandons-m-pesa-after-bank-failure\/\">\u95b1\u8b80\u5168\u6587 <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":53,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"slim_seo":[],"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[2,2047,2662,7],"tags":[398,402,397,410,409,407,408,406,399,400,394,401,396,403,411,395,405,404],"jetpack_publicize_connections":[],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p7prtj-DLR","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/posts\/152883"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/comments?post=152883"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/posts\/152883\/revisions"}],"predecessor-version":[{"id":152912,"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/posts\/152883\/revisions\/152912"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/media?parent=152883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/categories?post=152883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/test\/wordpress\/wp-json\/wp\/v2\/tags?post=152883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}