Jul 30, 2013

Equity Bank and Airtel Money Partner on mobile commerce solution

Equity Bank and Airtel Kenya have today entered into a partnership that will offer comprehensive mobile commerce solutions to their customers in Kenya, through Airtel Money.

The service, available to all Equity Bank customers with Airtel lines, will enable customers from both Airtel and Equity Bank to access Airtel mobile banking platforms, perform agency cash transactions at Equity Bank branches and also enable Airtel services customers to withdraw money at any Equity Bank countrywide.
Airtel Money will also enable customers to pay their utility bills, receive bank transaction alerts, check account balance and receive mini statements, among other services.


Speaking at the launch, Equity Bank Group CEO Dr. James Mwangi said: “We are pleased to enter into this agreement with Airtel, which will further strengthen our commitment to extending financial inclusion across East Africa by enabling the unbanked and under-banked to enjoy the benefits of mobile payments, while also giving us the opportunity to better serve Airtel customers.”

“We shall continue to strengthen our business model through innovation, enhanced use of technology, automation for a better customer experience and collaborations with industry stakeholders such as Airtel,” said Dr. Mwangi.

“This partnership with Equity Bank marks yet another milestone in deepening the accessibility of Airtel Money to our customers throughout Kenya. The  Equity branches will complement our 10,000 Airtel Money agents spread across Kenya  thus making it easier and more convenient for customers to have guaranteed access to Airtel Money deposit and withdrawal of cash,” said Mr. Jayant Khosla CEO Airtel Africa- Anglophone.

 “Equity Bank and Airtel Money have a shared commitment in ensuring financial inclusion from many in Kenya and beyond. I’m certain that this relationship will in the days to come empower more people in the larger East Africa region where Equity Bank is operating,” said Mr. Khosla.

Airtel ventured into the local mobile commerce business two years ago and now has  a vast dealer network of more than 10,000 agents which include banks, bank agents, supermarket chains and Posta outlets.


The partnership with Equity Bank will also help drive mobile money adoption in sub-Saharan Africa where Airtel Money has expanded to 16 operating countries  and demand for provision of convenient financial transaction processing services for governments, corporations and institutions across is rising.