700 000 customers registered on Airtel Money

Airtel Malawi has managed to register 700 000 subscribers on its Airtel Money service since its inception 2012.

In an interview with Nyasa Times, Airtel Money Country Director Andrew Santhe said the number of subscribers on the service signifies its importance to the general public.

“At first, we had 30000 customers on the pilot phase before the service was approved by the Reserve Bank and since then, the number has been increasing on a daily basis.

Santhe: Airtel Money
Santhe: Airtel Money

“This achievement in two years is very promising as it is more than what the banks have achieved in the country’s market,” he said.

Airtel Money service enables subscribers to use a handset as a wallet for keeping money.

With Airtel Money, one can do a person to person money transfer, pay bills, merchant payments and buy airtime.

However, the service has been dealt a big blow following some agents’ abandoning it due to meager returns.

Currently, Airtel Money has 14 000 registered agents in the country.

Santhe while acknowledging the development, said the company is putting in place a plan that will see more agents on the service.

At first, agents were given an incentive that had them a 100 percent profit on every transaction.

“That was a temporary move aimed at raising customers curiosity. You can’t go to a shop and expect to buy goods at 75 percent discount all the time so we couldn’t do that forever.

“That’s why our wish has been to register agents who would take the service as an additional business. As of now, it’s either we go for those who have abandoned Airtel Money or we look somewhere else,” he said.

He said Airtel Malawi has 40000 scratch card sellers in the country serving 3.2 million subscribers on the network.

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