Airtel Money customers can now make payments to I&M Bank merchants, after Airtel Money entered into a partnership deal with I&M Bank with an objective of developing the digital payment platform in the country.
The partnership brings forth quicker, safer, and more convenient mobile money payments for Airtel Money subscribers. Moreover, they will benefit from a 50 percent cashback on airtime on all Paybill payments processed via this platform.
“As Airtel Money, we acknowledge that more than 90 percent of Paybills in the market operate as bank paybills. By collaborating with I&M Bank, we not only make it easier for our customers to fund accounts and make payments but also give them more options as a result of an expansive merchant base, making digital payments faster, easier, and more secure,” said Airtel Money Kenya Managing Director, Anne Kinuthia-Otieno.
I&M Bank Regional CEO and Interim CEO, Kihara Maina, reiterated that the deal will improve access to finance. “We are very happy to have partnered with Airtel Money as a payment option for I&M merchants. It will make it simpler for people to make payments and will be widely accessible. It will also help the businesses that drive our economy.”
The partnership restores a successful model that was previously implemented in Tanzania and shows dedication from both institutions towards offering an integrated digital payment system in East Africa.
Airtel Money subscribers can also pay I&M merchants linked with USSD codes *334# or Airtel Money app using I&M PayBill Number 542542. It is very easy:
Through USSD:
Dial(‘*334#
Select Paybill and Till Payments
Select Airtel PayBill
Enter PayBill Number (542542)
Enter the merchant reference number
Insert amount and PIN
Through MyAirtel App
Open the app
Airtel Paybill.Select Paybill > A
Paybill number: 542542
Merchant reference number
Amount
PIN
The alliance will drive innovation, empower SMEs, and enhance financial inclusion, with Airtel expecting it to fortify its position as a premier mobile money operator and I&M Bank working towards realizing its vision for ‘borderless banking’ in the region.