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RBI cancels certificate of authorisation of Vodafone m-pesa

Jan 21, 2020 17:17 IST

The RBI on Tuesday said it has cancelled the Certificate of Authorisation (CoA) of Vodafone m-pesa on account of voluntary surrender of authorisation. Following the cancellation of the CoA, m-pesa cannot transact the business of issuance and operation of prepaid payment instruments, the central bank said. However, customers having a valid claim on the company as a payment system operator, can approach the company for settlement of their claims within three years from the date of cancellation i.e. by September 30, 2022.

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