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VeriFone signs mobile money deal with Airtel Africa

VeriFone Mobile Money and Airtel Africa, part of the Bharti Airtel Group, are teaming up to offer VeriFone Mobile Money’s merchant enablement applications for mobile ‘Tap n Pay’ services across their 17 operating companies in Africa.

A phone showing a mobile wallet

Mobile money services are popular in Africa

VeriFone Mobile Money will implement a full suite of retail enablement applications integrated to VeriFone’s range of payment devices across the group, enabling the deployment of mPOS, POS and biometrics for international remittance to Airtel Money customers. Using Tap n Pay, customers can pay, buy, bank, bill and remit money with their mobile phone at the point of sale.

According to the GSMA, over 42 million people across Africa actively use mobile money services and there are more than 520,000 registered mobile money agents across the continent. These figures stand in stark contrast to the fact that only 22% of Africans hold a bank account or credit facility.

Chidi Okpala, director and head of Airtel Money Africa, said: “Airtel is excited to offer VeriFone Mobile Money’s applications to our teeming Airtel Mobile Money customers across Africa. Using their Airtel Money Wallet with VeriFone’s contactless/NFC point of sale terminals, our customers will have a more convenient, fast and secure way to make multiple payment transactions utilising Tap n Pay.”

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