Airtel and Verifone Mobile Money to introduce merchant enablement in Africa

mobilemoney-gatesfoundation-flickrTap N Pay allows customers to buy, pay and bank with their mobile phones. (Image source: Gates Foundation/Flickr) Telecom major Airtel has reached an agreement with Verifone Mobile Money to introduce merchant enablement across Africa

According to the agreement, Verifone’s Mobile Money merchant enablement application for mobile Tap N Pay will be provided to 17 of Airtel's operating companies in Africa.

Tap N Pay is a secure way to enable customers to pay, buy, bank, bill and remit money with their mobile phones, at the point of sale.

Local reports stated that VeriFone Mobile Money has signed a group master agreement for the delivery of its merchant enablement solutions to Airtel Africa. The company will implement a full suite of retail enablement applications integrated to VeriFone’s range of payment devices across the group, enabling the deployment of Mobile POS (mPOS), POS and Biometrics for International Remittance to Airtel Money customers.

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

This service would change payment systems involving massive public transits and in retail sectors in Africa, added officials from Airtel.

According to Chris Jones, CEO of Verifone Mobile Money, Africa has one of the most evolved mobile money systems in the world. There are more than 42mn people who use this service, and over 520,000 registered mobile money agents in the continent.

”With 22 per cent of Africans holding bank accounts and credit facilities, we expect the number of people to quadruple as mobile financial services offer an unconventional way to transact, pay bills and even build assets,” he added.

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