Equity Bank and Airtel Kenya have today announced a joint undertaking that will offer mobile commerce solutions to their customers in Kenya, through Airtel Money.
The service is available to all Equity Bank customers with Airtel lines. Through the deal, the new service will enable customers from both Airtel and Equity Bank to access Airtel mobile banking platforms, perform agency cash transactions at Equity Bank branches and also enable Airtel services customers to withdraw money at any Equity Bank countrywide.
Airtel Money will also enable customers to pay their utility bills, receive bank transaction alerts, check account balance and receive mini statements, among other services.
Equity Bank CEO clarified that the Airtel Money based solution is not a competition and nor will it replace the Eazzy 24/7 mobile solution from the bank. Dr Mwangi also delved into the raging debate of the new excise duty on all financial transactions. He said that it would have been prudent that the government approach the issue differently as taxation scares people who are yet to adopt banking services.
Equity Bank branches will complement Airtel Money’s 10,000 agents spread across Kenya thus making it convenient for customers to have access to Airtel Money deposit and withdrawal of cash.