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Financial inclusion: Airtel links Standard Chartered to offer online deposit in Africa

By Juliet Umeh

Telecommunications service provider, Airtel Africa said it is collaborating with a banking institution, Standard Chartered Bank to expand financial inclusion across the key markets in Africa.

According to Airtel, services such as online deposits, international money transfers among others will be available for customers in the continent.
It said: “Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services.

“Standard Chartered’s corporate clients will also be able to make rapid and secure bulk disbursements, such as payroll payments, directly into the Airtel Money customer’s wallet.”

“This reduces the risks associated with travelling long distances for cash payments and instead customers can go to any Airtel Money agent, kiosk, or branch to cash-out their funds,” Airtel said.

CEO, Airtel Africa, Raghunath Mandava, said: “This means that our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash-out their funds at our exclusive kiosks and branches at their convenience.”

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