Flutterwave, Africa’s leading payments technology company has announced a partnership with Airtel Money, to expand Airtel Money’s services to businesses across Eastern Africa.
The partnership enables businesses integrating Flutterwave in Uganda, Tanzania, Zambia, Malawi, Kenya and Rwanda, to receive payments from Airtel Money customers, as well as make bulk payments into Airtel Money wallets 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.
Flutterwave Founder and CEO, Olugbenga GB Agboola, commented, “Our business goal is to continue to support African businesses digitise their payments methods and introduce them to a world of opportunities that come with digitisation. 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.”
COVID-19 has triggered a widespread shift in the adoption of mobile money services, with the GSMA reporting a 12.7 per cent increase in the number of registered global mobile money accounts in 2020. As the trend continues its upward spike, this partnership further responds to the growing dominance of cashless societies across the sub-Saharan region and the need to penetrate digital innovation deeper into communities across Africa.
Airtel Mobile Commerce BV CEO Vimal Kumar added that “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.”
Given the change in consumer behaviour and increase in e-commerce, businesses increasingly need to accept mobile money payments from customers for their goods and services. Furthermore, larger businesses are finding it cheaper, faster and more convenient to make bulk payments, direct to their employees or customers’ mobile money wallets.
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