Ecobank-Airtel Africa deal aims to boost customer convenience

Ecobank-Airtel Africa deal aims to boost customer convenience

Telecoms giant Airtel Africa and pan-African banking group Ecobank Transnational Incorporated have signed a partnership that could enhance mobile commerce for their customers.

The two companies says that the partnership will allows millions of Airtel Money and Ecobank customers across Africa to improve their access to mobile financial services and carry out a variety of mobile transactions.

The aim of the agreement is to enable Airtel Money customers, through Ecobank’s digital financial services ecosystem, to make online deposits and withdrawals, effect real-time domestic and international money transfers, make in-store merchant payments, and access loans and savings products, among other benefits. The deal is, however, subject to regulatory approval in each market.

The partnership will also allow Ecobank corporate account holders to make bulk disbursements, such as payroll payments, directly into Airtel Money customer wallets. Additionally, Ecobank will be able to sponsor Airtel Money to issue both virtual and physical debit and prepaid cards to Airtel Money customers.

The partners say that the potentially extensive reach of this agreement will provide even more convenience to customers, both within countries and for cross-border transactions and remittances across Africa.

And reach is certainly what both partners have. Airtel Africa is a global telecommunications services provider with operations in 14 countries across Africa, while Ecobank Transnational is the parent company of Ecobank pan-African banking group, operating in 33 countries.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.