Airtel Money users can now keep money sent to them from other networks as long as they want, following the removal of a code that forced them to withdraw cash within seven days of receipt or see the amount reverted to senders.
The telco said Airtel Money customers can now receive money directly into their mobile money wallet from any network without the previous withdrawal code that carried seven-day validity.
“This development effected on February 6, 2024, comes in response to the Central Bank of Kenya (CBK) and industry players’ collaborative efforts to ensure seamless mobile money interoperability as outlined in the CBK (Central Bank of Kenya) National Payments Strategy 2022-2025,” it said in a statement on Thursday.
With these changes, Airtel said, a customer registered on any mobile money platform can now send money directly to the recipient's wallet. This will apply to any amount as low as Sh1 and as high as Sh250,000 per transaction daily.
“Sending Money is the biggest use case in Kenya and having a seamless, direct wallet-to-wallet transfer of money across networks is a big benefit to Kenyans. This is a sign of customer centricity, growth, and innovation in the industry” Airtel Money Managing Director, Anne Kinuthia-Otieno said.
The National Payments Strategy by the CBK requires all mobile money providers to ensure a seamless customer journey across their different channels to allow on-network and off-network direct transactions.
“This is a major benefit for Kenyans as they can now enjoy the convenience of real-time transactions which has cut out limiting user intermediary steps. In addition, the mobile money market will expand by allowing easy movement of money and enhancing financial inclusion,” Airtel Kenya MD Ashish Malhotra said.
