Airtel Money has implemented a significant change in a bid to enhance the efficiency and convenience of mobile money transactions.
According to a statement by the Kenyan network company, customers can receive money directly into their mobile money wallets from any network without the need for a withdrawal code, which previously had a validity period of seven days.
This change, Airtel stated, is a result of collaborative efforts between Airtel Money, other industry players, and the Central Bank of Kenya (CBK), aligning with the CBK National Payments Strategy for the years 2022-2025.
The strategy emphasizes the importance of seamless service across different mobile money platforms to ensure a smooth customer experience and foster financial inclusion.
Under these new guidelines, customers can send money directly to recipients’ wallets regardless of the amount, ranging from as low as Kshs1 to the highs of Kshs250,000 per transaction daily.
Procedure for The Network’s Transaction
The process has been simplified, allowing users to initiate transactions through various channels such as the Sim Menu, USSD Menu, or the mobile app by selecting “Send Money” to any network and entering the recipient’s number.
Anne Kinuthia-Otieno, the Managing Director of Airtel Money, expressed her enthusiasm about the development, highlighting its significance for Kenyan customers.
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“The new streamlined process supported by the Central Bank is very welcome and a big benefit to Kenyans as customers will now enjoy seamless experience at affordable cost when sending money across networks- regardless of the channel they are using,” shared Ann.
She emphasized that the streamlined process supported by the CBK will provide customers with a seamless experience at affordable costs, promoting financial inclusivity and innovation in the industry.
“This is a sign of customers centricity, growth and innovation in the industry,” added the Airtel managing Director.
Airtel Managing Director on The New Changes
On his part, Ashish Malhotra the Managing Director of Airtel Kenya, echoed Ann’s sentiments, emphasizing the convenience of real-time transactions and the expansion of the mobile money market.
“This is a major benefit for Kenyans as they can now enjoy the conveniences of real time transactions which has cut out limiting user intermediary steps.”
“Additionally, the mobile money market will expand by allowing easy movement of money and enhancing financial inclusion for all,” said Ashish.
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He also commended the CBK for its efforts in ensuring a smooth transition to the new guidelines.
The move towards interoperability underscores the collaborative efforts among mobile money operators, regulators, and the government to deliver comprehensive and reliable financial services to all Kenyans.