Airtel Africa and multinational bank Standard Chartered unveiled a partnership aimed at boosting financial services in Africa, with mobile banking transfers initially live across four key markets in the region.
In a statement, the operator said efforts will be put into creating “innovative products aimed at enhancing the accessibility of financial services”.
Offerings, which will be made available to Airtel Money’s customers include real-time online deposits and withdrawals, receiving international transfers, as well as savings products.
The move will allow corporate clients of Standard Chartered to make payroll payments directly into wallets handled by Airtel Money, to reduce “the risks associated with travelling long distances for cash payments”.
Airtel Africa CEO Raghunath Mandava noted the collaboration allowed its customers to “send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash-out their funds at our exclusive kiosks and branches at their convenience”.
Mandava affirmed the operator continued to invest “heavily in cashing in and cashing out locations for our customers and increase our distribution”.
As part of the tie-up, mobile banking transactions between Airtel Money and Standard Chartered are now possible for users in Kenya, Tanzania, Uganda and Zambia, with other rollouts expected later this year.