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

Dubai Bank launches M-SASA banking platform in Kenya

Kenya’s Dubai Bank and Rapid Communications, a telecommunications solution provider, have partnered to launch mobile banking system M-SASA.  Read More

Angola creates awareness about E-Kwanza BAI

A major marketing campaign is currently underway in Angola to create awareness about a mobile money service called E-Kwanza BAI, which was launched this month by the Banco Angolano de Investimentos (BAI, Angolan Bank of Investments).   Read More

Orange, USAID join forces to boost mHealth innovations across Africa

The U.S. Agency for International Development (USAID) and global telecommunications operator Orange have announced a new alliance to develop innovations in mobile health (mHealth) at the Global mHealth Forum in Washington, DC.  Read More

WFP, World Vision look to digital to assist DRC refugees

More than 1 100 households whose members fled the war in the east of the DRC have received financial assistance via mobile money from World Food Programme and its partner World Vision. Read More

Tanzania’s Safe Motherhood Text Messaging Service enters third year

Since its launch two years ago, 500,000 men and women accumulatively received 40 million informative safe motherhood messages and reminders through the Wazazi Nipendeni SMS service. Read More

2go racks up 2m monthly users on Android app

Mobile social network 2go has announced it has achieved over two million monthly users on its Android app just over a year after its launch. Read More

Airtel Money now largest financial service provider in DRC

Airtel Money has hit the 1 million revenue-earning customers landmark in the Democratic Republic of Congo (DRC). Read More

MTN partners Tastee Fried Chicken to launch meal vouchers

MTN Nigeria has extended partnership with a leader in the outdoor and quick service restaurant sector, Tastee Fried Chicken (TFC) with the launch of meal vouchers to increase its retail footprints and provide its products and services at all TFC outlets nationwide. Read More

Airtel, Facebook partner to give Kenyans free internet access

Airtel has officially launched a partnership with Facebook to offer the Internet.org app to its pre-paid and post-paid customers in Kenya.  Read More

MTN launches cross-border remittance between Ivory Coast and Benin

MTN Group today announced the launch of a mobile money cross-border remittance service between Ivory Coast and Benin, to further enable the cheaper and easier movement of money in the West Africa region. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

PWC: Optimism abounds but a bumpy journey ahead for somePWC: Optimism abounds but a bumpy journey ahead for some

PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.