Airtel Money inks deal with Flutterwave to expand market reach
Airtel Money inked a deal with leading African payments company, Flutterwave in a bid to expand Airtel Money’s services to businesses across Eastern Africa.
The partnership will enable businesses integrating Flutterwave to receive payments from Airtel Money customers in at least six countries that include Kenya, Uganda, Tanzania and Rwanda.
Others are Zambia and Malawi.
“Our partnership with Flutterwave will help to empower even more customers through simple and accessible payments services, using the latest technologies, that support business innovation and boost local economies,” Vimal Kumar, Airtel Mobile Commerce BV CEO, said.
Airtel says their customers will also make bulk payments into Airtel Money wallets.
Vimal Kumar, Airtel Mobile Commerce BV CEO, said the new services will live subject to regulatory approvals in the respective countries targeting its 19.2 million subscribers in East Africa.
“Airtel Money is committed to bridging the digital divide and enhancing financial and digital inclusion for millions of businesses across sub-Saharan Africa,” said Kumar.
Flutterwave Founder and CEO, Olugbenga GB Agboola said the company will continue to support African businesses to digitize their payments methods that will introduce them to a world of opportunities coming with digitization.
“We are excited to have partnered with Airtel Money to further advance local businesses’ payment methods which will allow them to increasingly provide more services to their customers, grow their customer base and revenue,” he said.
According to Airtel, COVID-19 has triggered a widespread shift in the adoption of mobile money services, with the Global System for Mobile Communications Association (GSMA) reporting a 12.7 percent increase in the number of registered global mobile money accounts in 2020.
The partnership also seeks to respond to the growing dominance of cashless societies across the sub-Saharan region and the need to penetrate digital innovation deeper into communities across Africa.
Larger businesses are finding it cheaper, faster and more convenient to make bulk payments, direct to their employees or customers’ mobile money wallets.