Businesses in six African countries will be able to do cross-border transactions through Airtel Money following a partnership between Airtel and payment technology firm Flutterwave.
Under the deal, businesses integrating Flutterwave in Kenya, Uganda, Tanzania, Zambia, Malawi and Rwanda will be able to receive payments from Airtel Money customers, as well as make bulk payments into Airtel Money wallets.
Airtel says the deal which is pending regulator approvals will is expected to reach Airtel Money’s 19.2 million customers in East Africa.
“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,” said Vimal Kumar, CEO Airtel Mobile Commerce BV.
The two firms are banking on the rising cashless payments driven by the COVID-19 pandemic which according to GSM Association saw the number of registered global mobile money accounts in 2020 rise 12.7%.
“Our business goal is to continue to support African businesses 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,” added Flutterwave Founder and CEO Olugbenga Agboola.
The partnership is further backed to support large enterprises speed transaction, enhance convenience and reduce cost associated with bulk payment to employees and customers through mobile wallet.