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Ghana,United Kingdom : STANDARD CHARTERED BANK join hands with AIRTEL GHANA on mobile wallets.

Standard Chartered Bank has joined hands with Airtel Ghana Limited to launch Straight2Bank Wallet in Ghana, expanding its mobile wallet service coverage in Africa.

Straight2Bank Wallet which was initially launched in Kenya in 2013, allows corporations, governments and development organisations to make cashless payments to banked as well as unbanked individuals. Mobile wallets are especially relevant in emerging markets with large rural areas, and offers an efficient and secure alternative to onerous and risk-prone cash payments.

Following the launch of this new payment channel, Standard Chartered s corporate clients in Ghana will be able to use the Bank s Straight2Bank electronic banking platform to make payments directly into an individual s Airtel Money mobile wallet, regardless of the time. Through this clients will be able to effectively reach out to their beneficiaries with timely payments, while mitigating the risks of fraud and theft associated with cash payments.

Lucy Quist, CEO, Airtel Ghana said, The Straight2Bank Wallet service is a seamless, safe and instant mode of making single and multiple payments to employees or suppliers in a single batch. Money transferred can be received conveniently on a mobile phone via Airtel Mobile Money.

Kweku Bedu-Addo, CEO, Standard Chartered Bank West Africa 2 said, In partnership with Airtel, we are proud to be the first bank to introduce mobile wallet services to Ghanaian companies. Mobile wallets not only bring operational and cost efficiencies to our clients, but also mean individuals receive their funds through secure channels another way we are supporting Ghana s Central Bank to foster a cash-lite economy.

Standard Chartered has till date delivered the benefits of Straight2Bank mobile wallets to corporates in 10 markets within the Bank s global footprint, viz Kenya, Nigeria, Tanzania, Zambia, Pakistan, Bangladesh, the Philippines, Thailand, Indonesia and Vietnam.

Philip Panaino, Head of Transaction Banking Africa said, Ghana is the 5th African market to enjoy the benefits of Straight2Bank Wallet within the Bank s global roll-out strategy. Since its introduction, we have seen a steady increase in the volume of transactions processed via Straight2Bank Wallet, demonstrating the ease and convenience this product brings for our corporate clients, and reiterating our promise to be here for good.

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Publication:Mena Report
Date:Nov 2, 2015
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