Airtel launches new mobile payment service in Chad
Airtel Chad, in collaboration with Ecobank, has launched a mobile payment platform called Airtel Money, the first of its kind in Chad.Airtel Chad, in collaboration with Ecobank, has launched a mobile payment platform called Airtel Money, the first of its kind in Chad.
It will allow users to carry out financial transactions on their mobile phones.
Salia Gbane, Chief Executive Officer of Airtel Chad, said that clients will be able to send money at the click of a button, CIO magazine reports.
"Our customers will be able to send money to their relatives, pay essential bills such as electricity and water, tuition fees, bookings and even buy groceries without having to carry cash," he added.
The service will be accessible to all registered users in every area covered by the Airtel network, following a free registration.
This is an important development for Chad, which has the lowest access to banking service rate in sub-Saharan Africa at around three percent, Le Potentiel newspaper reports.
According to the African Economic Outlook website, Chad's financial system is vulnerable because of its poor geographical coverage, high concentration of risk, the under-capitalisation of state banks, insufficient on-site auditing and under-development of financial markets and services.
This service will allow a large part of the population, whether in urban or rural areas, to access financial services at affordable costs.