Airtel Kenya Thursday introduced a debit card that will allow its mobile money transfer customers to withdraw money from Visa automated teller machines (ATMs) across the world.
The deal will offer Airtel money subscribers access to about 10,000 ATMs in
M-Pesa accounts for nearly 90 per cent of mobile money agents in what has cemented
The Airtel Money Visa debit card, a partnership between the mobile operator,
Airtel Kenya managing director
The telco has about 15,000 agents, a figure slightly above a fifth of the 65,547 which its rival,
"At times our agents don't have sufficient cash which is an inconvenience to our customers," said
"With this partnership customers can now comfortably withdraw money from any of the Visa-enabled ATMs across the country and internationally."
It will cost a subscriber Sh50 to withdraw any amount of money from Kenswitch ATMs and Sh30 when using a Chase ATM. Airtel subscribers will pay Sh100 to withdraw money from a Visa-enabled ATM in
The deal comes days after
READ: Airtel and yu's push to share M-Pesa agents rejected
Airtel Kenya petitioned the competition watchdog to take action on
This means that the bulk of the mobile money transactions have been restricted in
The value of money transferred through mobile phones rose by 23.4 per cent last year to Sh1.9 trillion, according to the Central Bank of
M-Pesa accounted for 18 per cent of
Though it is possible to send money across networks, the transfer process is complex and costly compared to sending cash within a network. For instance, an Airtel subscriber can send money to an M-Pesa user who will receive a short text message notifying them of the cash sent.
Sending money from M-Pesa to a customer on a rival platform also costs between double and triple the charges to another M-Pesa subscriber.
M-Pesa's tariff structure shows costs Sh237 to send Sh20,000 from M-Pesa to Airtel Money while transferring the same amount to another M-Pesa user costs Sh55.
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