Airtel, Chase Bank in debit card deal

February 20, 2014
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The Airtel Money Visa card will allow Airtel Money users to withdraw money from their Airtel Money accounts from over two million Visa and Kenswitch ATMs worldwide, shop and pay for goods and services/FILE
The Airtel Money Visa card will allow Airtel Money users to withdraw money from their Airtel Money accounts from over two million Visa and Kenswitch ATMs worldwide, shop and pay for goods and services/FILE
NAIROBI, Kenya, Feb 20 – Airtel has partnered with Visa and Chase Bank to provide its Airtel Money subscribers in Kenya with a new Airtel Money Visa card.

The Airtel Money Visa card will allow Airtel Money users to withdraw money from their Airtel Money accounts from over two million Visa and Kenswitch ATMs worldwide, shop and pay for goods and services.

Airtel Kenya Managing Director Shivan Bhargava said the card will enhance convenience on the company’s mobile money and banking services and ensure that subscribers from both companies get added value.

“We are committed to nurturing strategic partnerships that provide innovative solutions that meet the ever changing needs of our customers. Through these partnerships, Airtel will deliver relevant and innovative mobile solutions to help customers overcome their daily challenges,” said Bhargava.

Bhargava said the company is targeting to transact 100,000 customers in the next three months and about half a billion customers in the 2014 full year.

He also said that phase two of the project will be launching the web portal where Airtel subscribers can use the card to buy goods online.

The partnership will also increase accessibility of Airtel Money to customers throughout Kenya.

Airtel ventured into the local mobile commerce business three years ago and also provides e-commerce solutions including online payments, online banking, utility bill payments for electricity, DStv, and water.

Airtel Money currently has a vast dealer network of more than 15,000 active agents which include banks, bank agents, supermarket chains and Posta outlets. Currently Airtel money subscribers are at 300,000.

Airtel customers can apply for the Airtel Money Visa card by filling an application form available at Airtel Xpress Plus shops or Chase Bank Branches in the country. One can also apply for the card by using the short code *222*3#.

On his part Chase Bank Deputy Chief Executive Officer, Paul Njaga, said that the bank will focus on quick turnaround solutions that respond to their ever-changing needs that addresses convenience, flexibility, real-time and value for money.

“We are pleased to partner with Airtel and Visa to offer an innovative and value proposition card to our customers. At Chase Bank, we strive to provide consumer-centric banking services evident in our broad gamut of unrivalled products and services. We are taking a strategic relationship with Airtel and Visa where we can offer Airtel subscribers convenience and flexibility. The launch of this Airtel Money debit card is a way to demonstrate our commitment in listening to customers’ ever-changing needs,” Njaga said.

Visa’s Head of Emerging Products and Innovation for Africa, Dougie Henderson said that this strategic partnership with Airtel and Chase Bank brings the benefits of electronic payments to the under banked in Kenya by being innovative in mobile money services.

“As a global payments technology company, we see one of the most valuable contributions we can make as helping to bring more people into the formal financial system. We do so by creating pathways to financial inclusion for the financially underserved through our products, services, technology, and payments expertise and our strategic partnerships,” concluded Henderson.

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