Business News of 2014-03-07

Airtel Ghana upgrades mobile money system

Airtel Ghana, the leading telecommunications network in mobile banking has upgraded and expanded its mobile money platform by making it simpler for its customers to transact business.
Mr Philip Sowah, Chief Executive Officer of Airtel Ghana who launched the new platform in Accra said, since the introduction of the Airtel Money, customers have enjoyed variety of services and it is important to expand the system by working with numerous partners to bring convenience to the door stop of consumers.
He said the new platform allows customers to transfer money from their bank accounts to their mobile wallet across the banks within the eco-system. One can also transfer money from the mobile wallet to his or her bank accounts and also requests for bank balances and mini statements, he explained.
Mr Sowah said, in addition to the mobile banking system, Airtel has also expanded its cash outs services where customers can take out money at Fidelity and Ecobank ATMs, Airtel shops, partner banks and agents outlets across the country.
He said Airtel has also introduced the innovative cardless ATM service where customers could withdraw money from the ATM without using a card. Mr Ishmael Adams, Head of Banking Supervision at the Bank of Ghana said the central bank is mandated to regulate, supervise and promote payment and settlement system.
He said the mobile banking system is very important as it helps to promote cashless society. He said the system also helps to reduce cost of printing money as bills such electricity and DSTV among others could be paid by using the platform.
He commended Airtel Ghana for introducing innovative ways of the mobile money system and urged its management team to continue in that direction.
Mr Yaw Akosa, Acting Director of Airtel Money said the old Airtel money service platform has been replaced with a new and more robust platform. Instead of looking for the AM menu on the phone, a customer can now dial *500# and the menu will show up automatically. Accessing the Airtel Money is now simpler, better and faster, he said.
He said, another new addition to the service is the partnership with Zenith Bank and Vivo Energy Ghana to facilitate easy top-up of shell fuel cards.