Airtel Zambia and Standard Chartered Bank Zambia has partnered to launch a new mobile money wallet platform dubbed “Straight2Bank.”
This newly launched mobile money wallet is expected to give customers the chance to instantly send money directly from their Standard Chartered Bank account to an Airtel money account.
The transaction can be done the other way round; customers can as well as move funds from Airtel money account into the bank account.
Retail Banking Head of Standard Chartered Bank Zambia Sonny Zulu said, as a result of the launch of the service, clients will be able to effectively reach out to their beneficiaries with timely payments.
This he said will also mitigate the risks of fraud and theft associated with cash payments.
He stated that the unique proposition ensures that customers have the flexibility to transfer money from their accounts to mobile money wallets.
According to him, the service can be accessed internationally giving clients the flexibility to make payments to mobile wallets and Standard Chartered accounts beneficiaries in Zambia while they are abroad.
Airtel Zambia’s Chief Commercial Officer Apoorva Mehrotra also mentioned that, Airtel is determined to contribute to the 2017 national financial inclusion strategy which supported institutions to leverage on digital technologies.
This he said will reduce costs and expand financial services to both the formal and informal sectors.
“The partnership will help customers use mobile money ecosystems to pay and receive funds electronically from mobile phones, at any time and any location,” Mehrotra added.