In a move that could speed up investors’ market moves, Airtel Ghana Ltd. has announced it is offering a new mobile funds-transfer service in collaboration with Databank Financial Services Ltd., a local stock-trading portal.
The service, offered through the Ghana-based telecom operator’s Airtel Money brand, enables users to load funds to investment accounts via mobile phones.
“Our subscribers who are also users of Databank investment offerings will be able to top up their accounts via their mobile phones 24/7,” a spokesperson for the operator tells PaymentsSource.
Databank Investors previously were required to go to a Databank branch or partner banks to deposit cash or checks in order to add funds to their accounts.
In addition to enhancing general convenience, the capability of managing investment funds via a mobile phone may enable users to react faster to market conditions and increase their overall stock trading activity, the spokesperson suggests.
Airtel customers may transfer funds from Ecobank Ltd., Standard Chartered Bank Ghana Ltd., Zenith Bank Ltd., GTBank Ltd., Unibank Ltd., UT Bank Ltd., and UBA Ltd. to the users’ Airtel Money mobile wallets, the spokesperson says.
Users must download the Airtel money application to their mobile phones using their mobile data connections, according to the company website. There is no cost to add funds to investment accounts from the mobile wallet, he adds.
Databank investors who are not Airtel customers can add funds to their investments via Airtel Money agents, who would do so on their behalf, he adds. Airtel claims 1500 service locations in Ghana, including Airtel shops and distributor outlets.
Customers typically use Airtel Money to purchase mobile airtime, transfer funds, initiate purchases, pay bills and taxes and manage bank accounts.
What do you think about this? Send us your feedback.
