Airtel Money has announced a partnership with Flutterwave, a payments solution company, to expand its mobile money services to businesses in Eastern Africa.
The partnership enables businesses integrating Flutterwave in Kenya, Uganda, Tanzania, Zambia, Malawi and Rwanda to receive payments from Airtel Money customers.
Bulk payments into Airtel Money wallets will also be enabled thanks to Airtel Money’s proprietary fintech platforms. The new services will go live subject to regulatory approvals in the respective countries and will reach Airtel Money’s 19.2 million customers based in East Africa.
COVID-19 has triggered a widespread shift in the adoption of mobile money services, with the GSMA reporting a 12.7% increase in the number of registered global mobile money accounts in 2020.
With the encouraging change in consumer behaviour and increase in e-commerce, businesses increasingly need to accept mobile money payments from customers for their goods and services.
According to Airtel Mobile Commerce BV CEO, Vimal Kumar Ambat, Airtel Money is committed to bridging the digital divide and enhancing financial and digital inclusion for millions of businesses across sub-Saharan Africa.
“Our partnership with Flutterwave will help to empower even more customers through simple and accessible payments services, using the latest technologies, that support business innovation and boost local economies.”
Flutterwave Founder and CEO, Olugbenga GB Agboola said that their business goal is to continue suppoting African businesses to digitize their payments methods and introduce them to a world of opportunities that come with digitization.
“We are excited to have partnered with Airtel Money to further advance local businesses payment methods which will allow them to increasingly provide more services to their customers, grow their customer base and revenue.”