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Airtel Money customers can now receive money directly from any network without the need for a withdrawal code, which previously had a seven-day validity period.
Effective February 6, this move aligns with collaborative efforts between the Central Bank of Kenya (CBK) and industry players to facilitate seamless mobile money transactions, as outlined in the CBK National Payments Strategy 2022-2025.
According to the National Payments Strategy, all mobile money providers must ensure smooth customer service across networks to facilitate on-network and off-network direct transactions.
These changes enable customers registered on any mobile money platform to send money directly to individuals on different networks, with transactions ranging from as little as Sh1 to as high as Sh250,000 per day.
When sending money, customers can now simply select “send money” to any network, enter the recipient’s number, and complete the transaction, with the funds immediately reflecting in the recipient’s wallet, eliminating the need for a withdrawal code.
Anne Kinuthia-Otieno, Managing Director of Airtel Money, praised the new process, emphasizing its significant benefits for Kenyans, who will now enjoy a seamless experience at affordable costs.
Airtel Kenya’s Managing Director, Ashish Malhotra, echoed this sentiment, highlighting the initiative’s importance in providing Kenyans with the convenience of real-time transactions and reducing user intermediary steps.
Moreover, the expansion of the mobile money market will facilitate easy money movement and enhance financial inclusion for all. Malhotra also expressed gratitude to the Central Bank of Kenya (CBK) for their efforts in ensuring a smooth transition to the new guidelines.
