Standered Chartered Bank and Airtel Africa have collaborated to improve financial inclusion across key markets in Africa by providing services such as online deposits, international money transfer etc.
Airtel said that “Airtel Money’s customers will be try to make real-time online deposits and withdrawals from Standard Chartered bank accounts, which will lead to receive international money transfers directly to their wallets, and access savings products amongst other services.”
Standard Chartered’s corporate clients will be able to make rapid and secure bulk of disbursements, such as payroll payments directly into the Airtel money customers wallet.
“There will be reduction in the risk connected to travelling long distance for cash payments and instead customers will be able to go to any Airtel Money agent, kiosk, or branch to cash-out their fund,” Airtel said in a statement on Friday.
Raghunath Mandava, CEO, Airtel Africa also said that “In this way their customers can send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash out their money at exclusive kiosks and branches at their convenience”.
“This highlights Airtel Africa’s commitment to provide affordable, innovative, best-in-class solutions to enhance the daily lives of customers.”
Mobile banking transfers between Airtel Money and Standard Chartered bank are now in Kenya, Tanzania, Uganda and Zambia while other products will be rolled out later this year subject to regulatory approvals, Airtel said.