Browsing: Airtel Money

Just days after starting offering one-day settlement for PayPal withdrawals, Equity has launched its One Till Number platform.

The Till Number platform offers retailers the freedom to accept payments from numerous payment channels or mobile wallets through the single till number in Kenya.

This newest offering by the bank is a first in the East African country’s marketplace which is well known for its early adoption of mobile money.

Read: Equity Bank, Kenyan investors raid DRC for multibillion-dollar opportunities

Due to the Till number’s ease of interoperability, it is now not necessary for businesses to sign up for numerous Paybill/Till numbers for them to accept payments from customers who pay using different numbers.

This latest product by the giant financial institution brings competition to Kenya’s established M-Pesa tills which have been adopted countrywide. Others that will feel the pinch include Airtel Money which is battling the giant telco in courts

Africa’s leading Mobile Network Operators (MNOs), MTN, Vodacom and Safaricom, have recently made bold plans to venture into the increasingly dynamic world of fintech. On 23rd June 2021, Safaricom launched its super app, which creates an ecosystem of mini-apps from the network operator as well as third-party apps that feed off the super app[1]. A month prior to this development, Safaricom, the leading MNO in Kenya announced plans to release an Application Protocol Interface (API) for the super app to enable third-party app developers to build more products and services on top of the super app[2]. This means the super app is going to be an app store that consolidates the reach of Safaricom.

In May, MTN also announced plans to become a tech platform to rival the likes of Apple and WeChat as part of their Ambition 2025 which is currently being implemented[3]

Revenue from data and mobile money drove Airtel Africa’s operations, boosting the company’s overall revenue by 9.9 per cent.

The Airtel’s revenue grew to $2.5 billion for the nine months ended December 31 from $2.2 billion in 2018.

According to data from the telecom, Airtel Africa realised a 3.9 per cent increase in voice revenue, 39 per cent in data and 40.4 per cent in mobile money during the period.

“We are also increasingly seeing the success of our strategy to lead in the roll-out of modernised 4G networks, with more than 40 per cent increase in data revenues for the quarter… our mobile money offer as well as increasing the distribution footprint have helped gain further acceptance of Airtel money,”  said Mr Raghunath Mandava, chief executive officer, Airtel Africa.

Also Read: Telkom dislodges Airtel with Kenya’s lowest call charges across networks

In the nine months ended December 2019, Airtel …