M-commerce the new bank

VALUE ADDED SERVICES

|
Image: By BiztechAfrica
M-commerce the new bank

By Gregory Gondwe, Blantyre, Malawi

Airtel Malawi Deputy Managing Director Maurice Newa told the media yesterday that phone mobile financial services will soon take over from banks.

“We have 2.9 million subscribers now on Airtel Money, while there are only 500,000 bank accounts in the country,” said Newa. “Mobile commerce has completely transformed the face of banking.”

Newa said services such as Airtel Money, which are not only fast but safe, give large segment of the unbanked population easy access to financial services in line with Reserve Bank of Malawi’s policy of financial inclusion.

He said this when presided over the re-launching of Mobile Money Platform as the company tries to market the facility more as a way of trying to improve on the lukewarm reception it suffered when it was launched for the first time earlier this year.

The company drove several residential areas in Blantyre in an effort to sell Airtel Money services to the residents in the commercial city.

During those stopovers, Airtel officials were explaining that the facility provides consumers a platform access products such as mobile banking, service payments, phone top ups and money transfer services.

Newa said Airtel aims at facilitating faster growth of the economy, as transactions through Airtel Money are conducted within 30 seconds.

Newa said the mobile phone handset facility can be used at any time of the day making cash available to people anywhere in Malawi.

One consumer in the locations where Airtel team stopped testified that she is already enjoying utilising the facility as she is now able to pay her water bills using Airtel Money.

Newa said from the first week of November, consumers will also be able to pay their electricity bills through the facility.

Airtel Malawi officials disclosed that at the moment the service has over 3,000 agents across the country and more will be identified which gives clients a wider choice on where to access cash.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Internet.org app now available in Ghana

Following the launch of the Internet.org app in Zambia and Kenya, Facebook is expanding its partnership with Airtel to bring the services to Ghana. Read More

TNM mobile money usage grows by 20%

Telekom Networks Malawi Limited (TNM) has announced that the number of customers using its mobile money service, called Mpamba meaning ‘capital’, has increased by 20 percent. Read More

Azimo launches instant money transfer to eight new countries in West Africa

Azimo, the online money transfer service, has announced that customers across Europe can now send money to recipients in Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo in West African CFA francs for instant cash pick-up. Read More

Airtel partners Cignifi and WSBI on mobile savings products

Brussels-based WSBI (World Savings and Retail Banking Institute) and Cignifi today announced an agreement to develop and test-market an innovative mobile savings product targeted at underserved and dormant savers.  Read More

WorldRemit, MTN in Mobile Money partnership

WorldRemit and MTN have signed a global partnership that will enable WorldRemit customers to send remittances instantly to MTN’s Mobile Money customers. Read More

Draw your own video game

Cartoon Network Games has partnered with Pixel Press on an innovative title encourages players to draw their own Adventure Time game levels. Read More

Tigo subscribers to enjoy 36m music tracks on their smartphones

Tigo Tanzania today announced the launch of Tigo Music through a partnership with Deezer, the international music streaming service that will provide Tanzanians with unlimited music experience. Read More

Tigo Rwanda launches 4G, TV streaming

Tigo Rwanda has officially launched its 4G internet service and iROKOtv video streaming partnership. Read More

MTN unveils 2015 BetterMe app to maximize internet usage

Henry Okoede, Bayo Adekanmbi and Ms. Funmi Onajide MTN Nigeria has launched its BetterMe campaign with the unveiling of the My2015BetterMe app and three 2015 BetterMe Bundle offerings for customers across all strata. Read More

Orange Mali, NSIA launch ‘Sini Tonon’

The insurance and savings sector in Mali has been revolutionised with the launch recently of a mobile money product called ‘Sini Tonon’, an initiative of insurance giant NSIA (Nouvelle Société Interafricaine d’Assurances), in partnership with Orange Mali.   Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

UCC launches 2015 ACIA awardsUCC launches 2015 ACIA awards

Uganda has launched the fifth Annual Communications and Innovation Awards, which celebrate and foster ICT innovation and achievement.

IN DEPTH

Kenya’s digital TV battle hots up Kenya’s digital TV battle hots up

Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.

COMPANY NEWS

MTN to empower African businesses with AWS Direct Connect

MTN Group today announced it would be the first African company to offer Amazon Web Services (AWS) Direct Connect to business customers across multiple countries on the ...

“All Systems GO!” for the DStv Eutelsat Star Awards in Zambia

It’s “All Systems GO!” for the winners of the fourth edition of the DStv Eutelsat Star Awards to be announced at the awards ceremony in Lusaka, Zambia ...

Spectra Wireless, Microsoft 4Afrika launch first commercial TV white spaces services in Africa

University students will now get fast, affordable Internet bundles and receive zero-interest financing when purchasing a new device.