Angola: Millennium Bank launches new mobile banking service
Angola Millennium Bank has launched a new service allowing its customers to access their accounts and perform transactions via the Internet and mobile phone.Angola Millennium Bank has launched a new service allowing its customers to access their accounts and perform transactions via the Internet and mobile phone.
According to a press release from the institution seen by ANGOP on Monday (October 27th), the new service " Paga Facil " also allows bank customers to purchase airtime refills, as well as to make payments including water and electricity bills, insurance services and flight tickets.
In addition, it allows users to make money transfers from their Millennium bank account to other banks, and vice versa.
With less than a quarter of the population using banking services, the need for innovative banking offerings that can reach unbanked populations is increasing.
About 75 percent of Angolan banks already have an internet banking service. Banking coverage expanded from 22 per cent in 2010 to 51 per cent of the country’s area in 2012 though it is still concentrated in Luanda.
The percentage of adults with access to formal banking services increased from 13.5 per cent in 2011 to 22 per cent in 2012 as the bank network expanded and publicity campaigns had an effect.