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RBI cancels certificate of authorisation of Vodafone m-pesa

The Reserve Bank of India cancelled the Certificate of Authorisation (CoA) of Vodafone m-pesa after its voluntary surrender of authorisation. Hence, the company cannot transact business of issuance and operation of Prepaid payment Instruments.

However, the customers or merchants having a valid claim on the company as a PSO, can approach the company till September 30, 2022 for settlement of their claims within three years from the date of cancellation, as stated by The Central Bank.