Access Bank Plc and Airtel Nigeria Limited have gone into a partnership to introduce a mobile money service known as Access Money. The service allows customers to perform simple, secure and instant financial transactions using their mobile phones. With the service, customers on the mobile network can send and receive money, make deposits and withdrawals, pay their utility bills and buy airtime for their lines.
In addition, it provides the ability for customers to receive money through agents nationwide or through cardless withdrawals from any Access Bank ATM machine. Speaking at the launch of the product in Lagos yesterday, Group Managing Director of Access Bank, Mr. Herbert Wigwe said: “Through Access Money, we will be providing financial access to more and more people and small businesses; creating an easier channel for the distribution of financial aid; and also making it easier for government to receive taxes and deliver welfare payments.”
According to him, Access Bank and Airtel agreed to introduce the platform into Nigeria’s financial landscape in line with the financial inclusion initiative of the Central Bank of Nigeria (CBN). “It is something that reaches new groups of people and helps them to build and grow the success stories of tomorrow. And it’s something we are proud to champion,” he added.
On his part, the Managing Director/Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya said his organization, as an innovative operator in the telecoms market was strategic in partnering Access Bank in order to create an enabling avenue for millions of Nigerians to gain financial inclusion. “With Access money powered by Airtel, millions of Nigerians will be able to make purchases, pay for services and receive payments by the touch of a simple button on their phones,” added.
“We are indeed proud of our partnership with Access Bank and hope that many Nigerians will take advantage of this product,” he said. To deposit money into the Access Money, customers were advised to visit any authorised agents, any Access Bank. “Customers will receive confirmation or notifications SMS for transactions performed. The service is also aimed at promoting financial inclusion for those with no access to formal financial services.
“This collaboration between Airtel and Access Bank will deepen financial inclusion and bring more Nigerians into the formal financial system. This will serve to support CBN’s financial inclusion target of 80 per cent of Nigerians by 2020,” Wigwe added.