- Airte’sl deal with London-based fintech, WorldRemit is expected to increase the subscriber base of Airtel and enable its customers to receive money from 129 countries.
- The deal announced yesterday, on 22nd Sep will facilitate about 400,000 Airtel Money users to receive funds directly without charges in their mobile wallets and accomplish in-app payments for goods and services globally.
Airte’sl deal with London-based fintech, WorldRemit is expected to increase the subscriber base of Airtel and enable its customers to receive money from 129 countries. The deal announced yesterday, on 22nd Sep will facilitate about 400,000 Airtel Money users to receive funds directly without charges in their mobile wallets and accomplish in-app payments for goods and services globally. Countries included under the agreement are the United States of America – the largest source of diaspora remittances to Kenya, the United Kingdom, Saudi Arabia, South Africa, and Australia.
The deal is expected to boost the telco’s efforts to increase its share of the local money market to increase its revenues and reduce the dominance of Safaricom’s M-Pesa that has 50 million active users across Africa. The telco has been seeking to enhance its subscriber base and use of its mobile money platform through partnerships with multiple financial service firms.
Airtel Kenya Managing Director, Prasanta Das Sarma said that the partnership, assures its customers its seamless, fast, secure and affordable services. Airtel has also signed agreements with cash remittance companies MoneyGram and Mukuru. Airtel in a statement had earlier said that it views Mobile money as one of Airtel Africa’s fastest-growing business segments, delivering revenue growth of 30.4 percent in the first half of the year. Airtel and Safaricom both view mobile money as a growth and diversification opportunity and have invested heavily to develop new their platforms’ core offerings of cash transfers and payments.
