Airtel has partnered with Standard Chartered Bank Zambia to launch their mobile money wallet and Straight2Bank wallet platform in Zambia which will enable customers to instantly send money directly from their Standard Chartered Bank account to an Airtel Money account as well as move funds from your Airtel Money account into your bank account.
The collaboration will help increase access to financial services in Zambia, where more than 60% of the population remains unbanked.
Speaking at the official joint launch held at the Airtel Head Office, Standard Chartered Bank Zambia Head of Retail Banking Zambia and Southern Africa, Mr. Sonny Zulu said his bank was excited to be partnering with one of Zambia’s largest telecommunication company to further ease customer payment processes.
Airtel Networks Zambia Plc Chief Commercial Officer, Mr. Apoorva Mehrotra said as technology continues to evolve, the new service would help customers move monies in the comfort of their offices or homes without physically going to an Airtel Money booth or the nearest Standard Chartered Branch irrespective of the time of day.
“Standard Chartered Bank Zambia in partnership with Airtel Zambia as a leading telecommunication network (has announced) the launch of mobile money services on its Straight2Bank,online and Mobile app menu, a new payment channel for both our Corporate Retail clients in Zambia. With Mobile Money, Standard Chartered’s Retail Clients and Corporate Clients in Zambia can now use the Bank’s electronic banking platforms (Straight2Bank,Online Banking and the Mobile app) to make payments directly into an individual’s or Corporates AIRTEL Mobile Money wallet from their Standard Chartered Bank account,” Mr. Zulu said.
“With this service, clients are now able to effectively reach out to their beneficiaries with timely payments, while mitigating the risks of fraud and theft associated with cash payments. The unique proposition ensures that customers have the flexibility to transfer money from their accounts to multiple mobile money wallets. In addition to this, the service can be accessed internationally giving clients the flexibility to make payments to mobile wallets and Standard Chartered account beneficiaries in Zambia while they are abroad.”
Mr. Mehrotra said:
“Airtel is determined to contribute to the 2017 National Financial Inclusion Strategy, which supported institutions to leverage on digital technologies to reduce costs and expand financial services to both the formal and informal sectors.
Most importantly with these services, risks associated with the movement of hard cash will greatly reduced as customers will not be dealing with hard cash as this is an offering which is expected to be an efficient and secure digital payment scheme for both Standard Chartered’s Corporate and Retail Banking clients as well as all Airtel customers.”
With this partnership between Airtel Money and Standard Chartered Bank, customers will be able to use mobile money ecosystems to pay and receive funds electronically and conveniently from mobile phones 24/7, no matter where the individuals are located with the final status of the transactions being able to be viewed easily too, ensuring clear visibility and accountability throughout the payment and receivables flow.
Source: Airtel Zambia