Home Market Updates ‘Airtel Money generates one million transactions daily’

‘Airtel Money generates one million transactions daily’

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Airtel Money generates a daily average of one million transactions valued at $25 million from an active base of over five million customers, the mobile telephony company has said.

This disclosure assertion was made by Chidi Okpala, Bharti Airtel’s Director and Africa Head, Airtel Money at the 4th Mobile Money Expo held recently in Lagos.

He had noted that the Airtel Mobile Money platform assists governments, businesses, institutions, embassies and schools across the African continent.

According to him, “leveraging a network of about 140,000 active agent locations, Airtel is currently creating entire cashless payments ecosystems, leading the charge for massive scale financial inclusion and reducing financial transaction costs across Africa.”

He made allusion to a recent World Bank report which indicates that millions of people have mobile phones but do not have mobile money services. He adds that this creates the opportunity for Airtel Money to penetrate into the mobile money sector.

“Airtel is renowned for revolutionizing the mobile money landscape in Africa with the ground-breaking Airtel Money. It is also on record that Airtel is the fourth largest telecoms company in the world with over 287 million customers with operations in 20 countries”, Okpala adds.

The Bharti airtel Director also noted that the platform offers convenience to the people, hinting that it will be launched in Seychelles next month.

He describes the service as an innovation that enables customers to turn their phones into electronic wallets.

“Activating the Airtel Money service allows millions of customers to transfer money to their loved ones across different countries in Africa, to purchase goods in partner shops and to pay their bills. Airtel Money is available to all airtel customers. It is a safe and secure service that is password-protected through state-of-the-art security systems. Customers do not require a bank account to enjoy the benefits of the airtel Money service,” Okpala adds.

The 4th MobileMoney Expo was a 2-day event attracted organisations, telecommunications solutions companies and mobile financial organisations across Africa and the world. It featured panel discussions, presentations and awards ceremony

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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