M-commerce the new bank
VALUE ADDED SERVICES| Oct. 17, 2012, 7:41 a.m.
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.
MORE VALUE ADDED SERVICES NEWS
Safaricom launches M-PESA bill manager serviceSafaricom has launched a new service known as ‘Bill Manager’ that will enable customers to manage and pay bills via M-PESA all in a single transaction. Read More
BankOne empowers 250 Microfinance BanksOne of Africa’s leading Information Technology platforms for micro finance banks, BankOne, has announced the signing up of its 250th client. Read More
Orange Money in France to allow money transfers to three African countriesOrange Money is available in Metropolitan France to enable Orange mobile subscribers in France to transfer money via their mobile to other Orange Money customers in Côte d'Ivoire, Mali and Senegal. Read More
Dar es Salaam gets UberDar es Salaam has become the 475th city to join in Uber’s growing global network. Read More
Carrefour signs up for Lipa Na M-PESACarrefour, the world’s second largest hypermarket chain, has today become the first retailer in Kenya to fully integrate Safaricom’s payments service – Lipa Na M-PESA – paving the way for the retailer to fully adopt M-PESA as a payments channel in Kenya. Read More
Tigo Insurance pays 10,000th claimantTigo Ghana says it paid over GHS 6.2 million to policyholders since the inception of Tigo Insurance in 2010. This was revealed during the presentation of a payment to its 10,000th claimant. Read More
Uber signs MoU with Ghana’s Transport MinistryUber, a technology company that connects riders and drivers at the touch of a button, has signed a memorandum of understanding with Ghana’s Ministry of Transport. Read More
Safaricom set to rival Uber with LitteCabsIn a move aimed at giving Uber a run for its money, Safaricom is in the preliminary stages of introducing its own tax app - LittleCabs. Read More
Uber launches in AccraUber has officially launched its taxi app in Ghana’s capital city Accra. Read More
M-PESA customers to access money through Equity Bank ATMs countrywideEquity Bank has partnered with Safaricom to launch a new mobile money transfer service that will see M-PESA customers access money from the bank's automated teller machines throughout the country. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.