Airtel Africa and Mastercard announced the launch of a new cross-border remittance transfer service in collaboration with Mastercard, allowing Airtel subscribers in 14 African regions to send and receive money safely, securely, and quickly. This unique solution will be brought in to provide users with a seamless digital experience that connects them to millions around the world.
Remittances are an important source of foreign money in Africa, bringing in an estimated $95.6 billion each year. This service will give clients the convenience and access they need to reach their loved ones all over the world, fostering financial empowerment and contributing to the continent’s economic prosperity.
Mastercard Cross-Border Services will support the external transfer of funds in each of the 14 African markets where Airtel has a presence in a phased way via a single and secure point of access. Chad, Congo Brazzaville, the Democratic Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Seychelles, Tanzania, Uganda, and Zambia are all included. The platform will connect consumers to wallets in over 145 markets through fast delivery, safe transfers, and low transaction prices.
“We are thrilled to embark on this journey with Mastercard, as we work together to roll out a world-class remittance service to our customers,” said Ian Ferraro, Chief Executive Officer, Airtel Money.
We are firmly dedicated at Airtel Africa to improve our customers’ lives through innovative and accessible financial solutions, and this cooperation is a key step toward that aim. We think that every person deserves the opportunity to thrive, and we are honored to play a role in making that vision a reality.”
“As the digital economy grows and expands, we’re making it easier for more people to transfer funds with ease, security, and certainty by launching this exciting, seamless remittance service.” Mastercard, as a global technology business with a long history in Africa, is committed to the continent’s prosperity and to connecting its people to accessible digital solutions that will allow for a more financially inclusive future for all.
“We are proud to continue expanding our partnership with Airtel Africa by providing more value and choice to its customers,” said Ngozi Megwa, Mastercard’s Senior Vice President, Digital Partners and Enablers, Eastern Europe, Middle East, and Africa.
According to Mastercard’s 2022 Borderless Payments Report, digital payments are on the rise, with three-quarters of consumers using mobile apps to send and receive cross-border payments. Because of the increase in cross-border mobile transactions, there is a true need to make cross-border remittances simple and secure for both banked and unbanked clients. Airtel and Mastercard share a passion for digital transformation and making mobile banking services available to all Africans.