Setting the pace for financial inclusion with Airtel Money

Mobile money payments continue to grow in Rwanda owed to advances in mobile technology which plays a big role in enhancing electronic payments and usage of mobile based financial services.

Mobile money payments continue to grow in Rwanda owed to advances in mobile technology which plays a big role in enhancing electronic payments and usage of mobile based financial services. Developing countries have undertaken mobile money to boost financial inclusion and create a cashless eco-system. With over 100 million transactions in Rwanda in the past year, it is with this determination to pave the journey towards a cash-less economy that Airtel Rwanda has spearheaded and reinvented the way we transact, pay, save and send money throughout the country and across border remittances.

The Airtel Money service has been evolving over the past years and it is a service that can be found in all the seventeen Airtel operating countries in Africa. Airtel Money operates in 17 countries across Africa and resonates with the bottom of the pyramid household’s thus unbanked populace. Its services have been designed, tested and targeted towards enhancing the way of living and financial habits of the poor households. the service primarily promotes cash in and cash out , bill payments , Airtime purchase, and full bank Integration where individual wallets have been linked up to allow movement of cash from the bank account to wallet and vice versa . Cardless ATM cash outs is yet another exciting service that has been introduced as well for the local personality that never owned a bank account before.

Airtel Money offers advanced value added services such as subscribers’ options of paying; electricity School fees, Water bills, RRA – tax Collection and Pay TV. Mr. Money, the Airtel Money mascot is meant to attract champion and exhibit the ease with which one’s life can be made more comfortable with the use of Airtel Money to pay for services and goods.

Recently, Airtel Rwanda introduced yet another new feature to the Air-tel Money platform. A ‘Tap and Pay Card’ dubbed Kozaho that enables subscribers to make micro payments. The card is powered by the Near Field Communication (NFC) technology offers a new wave of convenience and faster payment option for the customers and traders. The Kozaho card is currently being used as a pilot in Transport Services such as Kigali Bus Services, Motorbikes, Taxis and select supermarkets and shops across Kigali.

Speaking to Stephen Waiswa, the Head of Airtel Money, he predicted that there would be a lot of synergies between Airtel Money and what the banks do. Airtel Money will complement and apprehend the normal financial services and by doing this, Airtel envisions that it shall change the world to a more finically include globe in the near future.

“Our commitment on innovation in mobile financial services is what is driving the wheel to a cashless econ-omy. With new additions to the Airtel Money platform and availing it to everyone in the country, we hope that we can help more people transact and use their money easily and safely. Our goal is to create a new wave of accepting payments using the mobile phone technology, thus bridging the gap between the traditional brick and mortar modes of payment.” Said Teddy Bhullar, Airtel Rwanda Managing Director.

Airtel customers can make payments at their convenience by simply dialing *182# and following the prompts.