Airtel, Standard Chartered sign partnership on mobile financial services

Airtel Africa and Standard Chartered have both partnered to connect their customers through their various platforms to increase access to mobile financial services.

The partnership comes after the bank industry and the telecommunications sector went for each over the charges of USSD code.

In a statement seen by BusinessLive, Airtel Africa said the deal will lead to the creation of innovative platforms.

“Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services and, ultimately, better serve people across Africa,” the statement read.

“In line with this, Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services.

“This partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel Money offerings across its 19 million customer base, with new products and services helping to promote the wider adoption of mobile money and increasing financial inclusion.”

While speaking on the deal, the Chief Executive Officer of Airtel Africa, Raghunath Mandava, said: “Our relationship with Standard Chartered boosts financial inclusion across the continent, giving millions of people access to valuable banking services. We continue to invest heavily in cashing in and cashing out locations for our customers and increase our distribution.

“This means that our customers can now 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. This highlights Airtel Africa’s commitment to providing affordable, innovative, best-in-class solutions to enhance the daily lives of our customers.”