Airtel Partners With World Remit for Cash Transfers from 129 Countries

A new deal by Kenya’s telecommunications service provider Airtel and London based Fintech WorldRemit will see over 400,000 subscribers receiving money from about 129 countries.

The collaboration will enable Airtel money users to receive the funds directly and without charges in their mobile wallets in the move by Airtel’s to increase its share of the local money market.

The countries under the deal include the United States of America, the United Kingdom, Saudi Arabia, South Africa and Australia. Airtel Kenya’s managing director Prasanta Das Sarma has said that the partnership will affect seamless service across the globe for the Airtel subscribers.

”Our customers will continue to enjoy the services without fear of costs. Airtel Money continues to offer fast, secure and affordable services to all Kenyans,” the managing director noted.

Earlier this year, WorldRemit noted that mobile money is increasingly becoming an important part of Airtel’s business, currently accounting for 10.3 per cent of their total revenue in constant currency.

“Mobile money continues to be one of Airtel Africa’s fastest-growing business segments, delivering revenue growth of 30.4 per cent in the first half of the year,” they said.

Kenya’s telco is doing this in order to increase customers on its mobile money platform through access to new markets with the aim of

increasing its revenues and lessening the dominance of Safaricom’s M-Pesa has over 50 million active users across Africa.

The new move will also enable customers to carry out in-app payments for goods and services globally. Airtel has previously signed agreements with cash remittance companies MoneyGram and Mukuru.