Airtel Africa and Standard Chartered have partnered together to boost financial services in Africa by providing customers with additional mobile financial services.
The two companies have agreed to co-create a range of services for their customers, starting with the ability to make real-time deposits and withdrawals from Standard Chartered bank accounts. The banks corporate clients will also be able to make rapid bulk payments, such as for staff payroll, directly via Airtel Money.
“This reduces the risks associated with travelling long distances for cash payments and instead customers can go to any Airtel Money agent, kiosk, or branch to cash-out their funds,” said a statement from Standard Chartered.
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”.
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.