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Airtel Money and Standard Chartered Bank Partner To Allow Online Transactions

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Airtel Telkom

Airtel Africa and Standard Chartered Bank have today announced a strategic collaboration to provide customers with increased access to mobile financial services.

This means that Airtel Money’s customers will be able to:

  1. Make real-time online deposits and withdrawals from Standard Chartered bank accounts
  2. Receive international money transfers directly to their wallets
  3. Access savings products amongst other services.

Standard Chartered’s corporate clients will also be able to make rapid and secure bulk disbursements. This includes payroll payments, directly into the Airtel Money customers wallet.

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

Airtel and Standard Chartered Partnership

Commenting on the collaboration, Sunil Kaushal, Regional CEO, Africa and the Middle East said:

“By collaborating with innovative organisations like Airtel Africa, we are accelerating our mobile and digital-led strategy to provide best in class financial services to Africa. This partnership will further enhance the ability of our customers to manage and move money safely and securely.”

This partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel Money offerings across its 19 million customer base, with new products and services helping to promote the wider adoption of mobile money and increasing financial inclusion.

Raghunath Mandava, CEO, Airtel Africa, said: “Our relationship with Standard Chartered boosts financial inclusion across the continent. It will give millions of people access to valuable banking services. This means that our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones. They can also cash-out their funds at our exclusive kiosks and branches at their convenience. 

The feature is live in Kenya, Tanzania, Uganda and Zambia. Remaining products will be rolled out later this year subject to regulatory approvals.

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