Equity Bank and Airtel join forces in mobile banking

Kenya’s Equity Bank and Airtel Kenya, a subsidiary of Indian telecoms group Bharti Airtel entered into a partnership that will provide their customers with complete mobile commerce solutions, through Airtel Money.

The Indian telecom operator Bharti Airtel attacks Safaricom pioneered mobile banking and inventor of m-pesa, on his own ground. Indeed, its subsidiary Airtel Kenya has an agreement with Equity Bank which is expected to enhance the mobile banking services provided by Airtel Money. This service is available to all customers who have Equity Bank Airtel lines, allowing them access to platforms of mobile banking operator, perform financial transactions and withdraw money in all branches of Equity Bank across the country. The service will also allow customers to pay their electricity bills, receive notifications of bank transactions, check account balances and check bank statements.

A presence in 16 countries

“This partnership with Equity Bank enhances the accessibility of Airtel Money to our customers throughout Kenya. The 203 branches and 600 ATMs Equity Bank will complete the 10,000 Airtel Money agents spread across the country, “said Jayant Khosla, President and CEO of Airtel for Anglophone Africa. The agreement could help the spread of mobile commerce in Africa, where Airtel Money is present in 16 countries.

Airtel has launched mobile commerce two years ago and now has an extensive network that includes more than 10,000 retail outlets including banks, bank officials and supermarket chains.

The Bharti Airtel group achieved in 2012 a turnover of 420 billion rupees (approximately EUR 5.3 billion). Its Kenyan subsidiary is the second largest operator in the country and has 4 million users, a total of 19.2 million in Kenya, according to the Communications Commision of Kenya (CCK).

Source: http://economie.jeuneafrique.com