The move follows similar deals with Vodafone and transfer specialist Xpress Money announced last month.
Under the agreement, Airtel Money customers across Airtel Africa’s 17-country footprint will be able to send and receive money instantly using a money transfer service supported by BICS’ HomeSend remittance hub.
“Mobile is seen as a viable channel to transfer money in Africa. This agreement enables us to guarantee the availability of money transfer services for our subscribers. It will enable them to send and receive transfers in a safe and secure environment. This partnership with BICS is another step by Airtel Money to deepen financial inclusion, expand cashless ecosystems and facilitate intra-Africa fund flows across our 17 markets,” said Chidi Okpala, director of Airtel Africa and head of Airtel Money.
HomeSend is a global service based on the technology of BICS’ partner eServGlobal and connects telecoms service providers, banks and financial organisations by facilitating real time transfers of cash, credit card payments, or direct bank transfers.
Through the agreement the Bharti Airtel subsidiary will extend the international reach of its international money transfers service to more global destinations.
“The Airtel Africa agreement enables mobile subscribers to send and receive money transfers, opening up a two-way model in the region,” said Frederic Salmon, VP mobile financial services at BICS.
“As more and more leading operators join the community, the scope of mobile money transfers will continue to increase and this will contribute to our aim of developing a truly global mobile remittance ecosystem."
