In a bid to increase mobile banking penetration and tap into Rwanda’s unbanked population, Banque Populaire du Rwanda (BPR) has partnered with TIGO Rwanda to allow the mobile operator’s subscribers have access to the service.
The Bank’s Chief Executive Officer, Herman Klaassen, said on Wednesday that with the new partnership, mobile banking transactions are set to rise above the current 150,000 transactions recorded per month.
“Mobile Banking is modern and smart, which uses the latest technology and bypartnering with all operators, we are very optimistic that the number is expected to grow up to 100,000 active customers by the end of this year,” Klaassen said during a press conference.
BPR already has a partnership for mobile banking with MTN Rwanda and it is seeking to bring Rwandatel onboard in the near future. The Bank says that it has 48,500 registered users in their fourth month after the launch of the product.
The service allows BPR clients to do banking transactions and bill payments on their mobile phones. It’s available in three languages used in the country—Kinyarwanda, English and French.
Mobile Banking services include checking account balance, making transfers, order cheque books, purchasing electricity, airtime top up, StarTimes TV, Dstv and MTN postpaid phone bills payment.
Klaassen also revealed that the bank is planning to add more service onto the system to give customer a wide range variety. The services include tax payments, fuel payment and purchase of utilities from traders and supermarkets.
“The service has remarkably decreased queues in BPR branches for the last few months, however, the little we are still experiencing is mainly for withdrawals which we expect to eradicate by putting up extensive marketing campaigns for Mobile Banking and ATMs roll out,” BPR said in a statement.
Tigo officials said that the partnership will give its subscribers more options to utilise their phones.
“Partnering with BPR will make it easy for our subscribers and they will have more options on using our network mobiles,” Tigo’s Chief Executive Officer, Tom Gutjahr said.