Airtel Africa and Mastercard have announced the launch of a new cross-border remittance service, which will enable Airtel subscribers across 14 African markets to send and receive money safely and securely, with speed and certainty.
The innovative service will be rolled out in a phased approach to provide consumers with a seamless digital experience connecting them to millions across the world.
An estimated $95.6 billion a year flows into the continent, making remittances a major source of foreign currency in Africa.
The partnership will therefore provide customers with the convenience and access they need to reach their loved ones across the globe, promoting financial empowerment and contributing to the economic growth of the continent.
Through a single and secure point of access, Mastercard Cross-Border Services will support the outward transfer of funds in a phased manner across each of the 14 African markets where Airtel has a presence.
This includes Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Seychelles, Tanzania, Uganda, and Zambia. Through timely delivery, secured transfers and reasonable transaction costs, the platform will connect consumers to wallets in over 145 markets.
Commenting on the launch, Ian Ferraro, Chief Executive Officer, Airtel Money said, “We are thrilled to embark on this journey with Mastercard, as we work together to roll out a world-class remittance service to our customers. At Airtel Africa, we are deeply committed to transforming the lives of our customers through innovative and accessible financial solutions, and this partnership is a significant step towards that goal. We believe that every individual deserves the chance to succeed, and we are proud to play a part in making that vision a reality.”