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

Safaricom launches M-PESA Surepay

Safaricom has announced a new service that will allow organisations to track funds sent to beneficiaries via its mobile money solution M-PESA. Read More

EcoSure hits 1 million users

In just two months, Econet’s insurance service, EcoSure, has registered over one million new customers. Read More

Airtel, Visa extend mobile payments to seven countries in Africa

Visa and Bharti Airtel have announced a partnership to bring innovative mobile payment services to seven markets in Africa. Read More

Terragon Group to unveil African-focused Mobile Advertising Technology at MWC

Nigeria-based Terragon Group is set to unveil its dynamic data monetisation and advertising platform, described as a first for mobile in developing markets, at MWC. Read More

MTN demonstrates the benefits of its video on demand offering

MTN showcased the benefits of FrontRow when it streamed high bandwidth video content onto multiple mobile devices using its video on demand (VOD) offering. Read More

Vodacom, Tigo agree on mobile money interoperability

Millions of M-Pesa and Tigo Pesa customers in Tanzania will soon be able to send and receive money directly into each other’s wallets. This follows the recent signing of a mobile money interoperability agreement between Tigo and Vodacom. Read More

Airtel Ghana launches DOTGO SMS Web browsing service

Airtel Ghana has deployed DOTGO’s SMS-based Internet service, which enables any mobile phone to be Internet-accessible without data or Wi-Fi.  Read More

MoneyGram reaches 25,000 locations across Africa

MoneyGram has announced an agreement with Safaricom that enables consumers in over 90 countries outside Kenya to send funds directly to nearly 20 million customers of M-PESA. Read More

TrustPay defines new space in cashless payment, commerce

TrustPay has officially launched a new range of innovative m/e Commerce merchant solutions it says are set to accelerate economic growth in developing markets. Read More

Econet launches Dial a Doc

Econet Wireless has launched a new service that will allow subscribers to access health advice 24/7 via a mobile phone.  Read More

PRESS OFFICES

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

FEATURED STORY

2bn priced out of internet access2bn priced out of internet access

A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.

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.