Airtel Money wins Mobile Money Service of the Year
Even though mobile payments are a relatively new phenomenon, they have caught on well in some parts of the continent.
Advertisement
In Kenya, for instance, mobile money has become a part of the business fabric of the society whereby mobile payments are made regularly by over 68 per cent of the population, according to the Pew Research Centre.
Comparatively, though, West Africa lags behind, with Ghana at only 11 per cent penetration.
There are a lot of reasons for this. At the time mobile commerce was introduced, many people expressed concerns about how secure their money will be with mobile payments, while others did not appreciate how much time it could potentially save them. This situation is gradually changing, as more and more Ghanaians are warming up to this new and innovative service.
One of the key players in the mobile commerce sector, Airtel Ghana, has since its introduction of its Airtel Money platform, made a lot of inroads in creating acceptability of the service.
They have been instrumental in changing the way the average Ghanaian transacts, and are gradually but steadily moving towards achieving their target of helping to propel Ghana towards a cashless society.
Apart from the unmatched reach and convenience offered by the service, Airtel Money has also spearheaded the extension of the availability of mobile commerce to deeper pockets of the country, which is making a significant impact on the lives of millions of Ghanaians.
Not surprisingly, in May of this year, Airtel won the Mobile Money Service of the Year at the Ghana Telecom awards organized by Mobile World Magazine. This is the second time in three years that Airtel’s mobile e-commerce service, Airtel Money has been recognized as the best by Mobile World.
It is therefore obvious that Airtel is doing something right with their Mobile Money offering and so we sat down with M-Commerce Director Luck Ochieng to find out what went into winning this recognition.
“Since we were late in coming into the market, we’ve had to be extra creative - so innovation is a key part of everything we do,” Mr Ochieng explained. A look at the repertoire of services and products Airtel has brought onto the market since the launch of its m-commerce service is a real indication of the kind of innovation which has been introduced by the telecoms company.
Airtel takes a lot of pride in weaving themselves into the lives of their customers. They even claim they are not a communications company, but instead a “life enrichment company.”
At its core, Airtel Money is a way to store and transfer value electronically through Airtel, making transactions more convenient. “Signing up is nearly as simple as buying a SIM card - simply go to any Airtel location and register, set your private PIN number for security, and you are ready to make mobile payments”, Luck Ochieng explained.
To add money into their Airtel account, users can go to any one of Airtel Money’s 2,700 registered agents consisting of seven different partner banks, 152 partner post offices and local branded Airtel Money agents near you.. The same agents offer cash out service as well.
Airtel Money customers can alternatively cash out money from all Fidelity ATMs across the country and a majority of Ecobank ATMs. “So as you can see, Airtel’s advantage comes from the number of ways that a customer can use our service. Money can be transferred to any person with a mobile phone, not just other Airtel mobile money users. A user can transfer money to anyone who is registered on Airtel Money.
Users can also pay bills, buy goods from merchants and make online purchases securely too”. “Or they can also just save the money on their electronic wallet”.
What makes Airtel Mobile Money different?
Airtel has some unique features that apply only to its service. Airtel mobile money is the only service that can link directly to a bank account. It is also the only service with which you can purchase data bundles to access the internet.
“Imagine you are trying to meet a deadline late in the night, and you run out of data. If there are people on the other side of the world waiting for you, this can be a huge problem. With Airtel mobile money, you just top up with data bundles or recharge quickly and move on without issues”, he said.
Airtel also offers merchant and business services like bulk transfers to pay casual employees. It is a great solution for companies that deal with many small vendors like susu collectors, microfinance field agents, and distributors of FMCGs.
Airtel payments have several layers of security. The first is heavy encryption for every transaction, so that a user’s account cannot be hacked electronically. "Even if a phone or SIM card gets lost, a simple call to our customer service can lock the account, and can be reopened when a new SIM is purchased or recovered.
It is details like these that tend to be a hallmark of Airtel’s vision to be the most loved brand in the daily lives of African people.”
What lies ahead?
“About 70 per cent of the Ghanaian population is traditionally unbanked, so there is huge opportunity for those who need access to financial services.” According to Mr Ochieng, Airtel has the second largest mobile network platform in Ghana, and they hope to leverage this to help bridge the divide in access to basic services. There are already 21 million SIMs on the market, which provides huge opportunities.The opportunity for inclusion is just as large.
Airtel is hoping to partner with more banks in Ghana to help spread their services further than ever, through “agency banking.” By partnering with Airtel, they can expand their services through Airtel’s existing agent networks and grow access.
To encourage adoption of mobile money services, Airtel is pushing data driven devices, whether that is smart devices in Accra and other main towns or data-enabled feature phones in the rural areas.
They are hoping that mobile payments will become commonplace, like has happened in East Africa.
“In East Africa, you can use mobile money to pay for your taxi or for your food at a restaurant. It’s a normal part of everyday life. This is where we see Ghana getting to in the next few years and Airtel Money will be right there championing this vision,” Mr Ochieng said.