Reported by: banking|Updated: February 15, 2018
Airtel Zambia has partnered with Standard Chartered Bank Zambia to launch a new mobile money wallet platform ‘Straight2Bank’. The mobile money wallet will give its customers the chance to instantly send money directly from their Standard Chartered Bank account to an Airtel money account as well as move funds from Airtel money account into the bank account. Standard Chartered Bank Zambia head of Retail Banking Zambia and Southern Africa Sonny Zulu said with this service, customers are now able to effectively reach out to their beneficiaries with timely payments, while mitigating the risks of fraud and theft associated with cash payments. The unique proposition ensures that customers have the flexibility to transfer money from their accounts to mobile money wallets. In addition to this, the service can be accessed internationally giving clients the flexibility to make payments to mobile wallets and Standard Chartered accounts beneficiaries in Zambia while they are abroad, he added. The platform will look to help the unbanked section of Zambia as according to the Bank of Zambia, only 40% of Zambia’s 16 million people are banked. Airtel Zambia has around 5 million customers.