Natsave Bank has partnered with Airtel Mobile Commerce Zambia Limited to launch its Wallet to Bank and Bank to Wallet services in Zambia thus broadening access to financial services.
The partnership is aimed at providing appropriate and quality financing that is both accessible and affordable to low-income and other vulnerable households as envisioned in the 7th National Development Plan and the Vision 2030 Strategy.
And Airtel Money Director, Mr James Chona said because financial inclusion was a multidimensional model which encompassed all initiatives including the use and access of Mobile Money services, the partnership with NATSAVE would help in onboarding groups that are traditionally excluded from the formal financial sector.
“We are excited about another strategic partnership that we have just launched with NATSAVE bank. We have always said business is easier when the corporate world creates synergies to make the life of a customer better. And today we see once again the integration of technology interlinking with the financial sector to bring to not only bridge the digital divide but bring to customers digital financial services,” Mr. Chona said. “Almost every person now has a mobile phone, whether smartphone or not, people are able to transact using the mobile money services and there is still a huge potential for us to leverage on digital technologies and reach the informal sector especially those living and working in the rural areas.”
Speaking about the partnership, NATSAVE Head – Retail Banking, Mr. Mebelo Mebelo said that strategic partnerships are taking centre stage on the financial and developmental agenda of NATSAVE, as well as for Public and Private market players. He is said for NATSAVE, this was yet another positive step taken in the mission to provide innovative, convenient and affordable financially inclusive services to customers.
“As NATSAVE, we have been looking for ways to empower our customers and we believe the Airtel/NATSAVE Bank to Wallet and Wallet to Bank facility will enhance the reach and delivery of financial services to customers who are the most important asset in our equation. This will also allow customers on Airtel and NATSAVE to access funds and transact with convenience.”
The agreement will enable customers to instantly send money directly from their Airtel Money wallet to their NATSAVE Bank account and vice versa.
The partnership is meant to supplement Government’s efforts as prescribed in the 2017 to 2022 National Financial Inclusion Strategy to improve physical access to high-quality financial delivery channels which include bank branches, agents, ATMs, and mobile phones as the percentage of adults using an electronic payment instrument is expected to grow from 37% to 55% by 2022.
Source: Airtel Zambia