Documenting finance

Airtel Africa and Mastercard Partnership

Airtel Africa Mastercard Partnership Expansion 100 million users send money globally

In a significant move for Africa’s digital economy, Airtel Africa and Mastercard have unveiled an innovative service that greatly simplifies cross-border money transactions.

This service is uniquely positioned to enhance the lives of over 100 million Airtel users across the continent by providing the ability to seamlessly send and receive money.

Users in 14 African countries now have access to a service that taps into Mastercard’s extensive global network and sophisticated digital payment technology.

The service connects to wallets in more than 145 global markets, thus expanding the financial reach of its users.

Acknowledging the role of remittances, which infuse a substantial $95.6 billion annually into the continent’s economy, the new remittance platform fuels economic growth and financial empowerment.

The rollout plan of this remittance service is strategically phased. Great emphasis is placed on providing customers with a digital experience characterized by fast execution, security, and lower transaction costs.

This service also aligns with the ever-growing tendency for consumers to utilize mobile apps for financial transactions. This trend is supported by the observations of Mastercard’s 2022 Borderless Payments Report.

Key figures:

  • Ian Ferraro, Chief Executive Officer, Airtel Money Africa, highlighted the company’s aim to furnish customers with cutting-edge, accessible financial solutions through this alliance.
  • Ngozi Megwa, Senior Vice President, Digital Partners, and Enablers, EEMEA Mastercard, reinforced Mastercard’s pledge to Africa’s ongoing digital transformation, presenting this service as a pathway to an inclusive financial future.

The following attributes encapsulate the value proposition of the Airtel-Mastercard remittance service:

  • Convenience: Facilitates money transfers at the touch of a button.
  • Access: Connects Africa to the global financial system, bridging distances.
  • Security: Safeguards money with state-of-the-art digital encryption.
  • Speed: Ensures prompt transactions across continents.
  • Economic Empowerment: Empowers users to partake in the continent’s financial narrative.

Whether you’re looking to support your family back home, manage financial obligations overseas, or empower a loved one’s educational pursuits abroad, this service provides you with a reliable financial tool.

Imbued with the common vision of Airtel and Mastercard to foster a financially inclusive future, the service aims to satisfy the evolving needs of both banked and unbanked consumers with simplicity and innovation.

Moneyspace Ke
Moneyspace Ke
We understand the hustle of everyday Kenyans – the drive to do more, save more, and be more, all while not earning just enough. At Money.ke, we aim to provide reliable information to help you build a scalable sidehustle business. Subscribe to find insights on financial products, practical saving tips, and viable business ideas in Kenya. 🇰🇪🤝📈.
Moneyspace Ke
Moneyspace Ke
We understand the hustle of everyday Kenyans – the drive to do more, save more, and be more, all while not earning just enough. At Money.ke, we aim to provide reliable information to help you build a scalable sidehustle business. Subscribe to find insights on financial products, practical saving tips, and viable business ideas in Kenya. 🇰🇪🤝📈.