The Indian group of telecommunications, Bharti Airtel signed a contract with the VeriFone Mobile Money Company for the supply of its trade application for payment by mobile “Tap n Pay” in 17 countries of Africa where Airtel operates.
According to Chidi Okpala, the manager of Airtel Money, with the VeriFone “Tap n Pay” secured application, Airtel will be “very advanced in its efforts to transform the payment systems in the transfer and the public mass purchasing sectors in Africa“.
For Chris Jones, Chairman and Chief Executive Officer of Mobile VeriFone Money, “Africa has one of the Mobile Money systems the most developed in the world“.
According to GSMA “more than 42 million people throughout the continent actively use the Mobile Money services and there are more than 520 000 Mobile Money agents registered“, continued M Jones.
He supported that with only 22 % of Africans who have a bank account or a credit card, “we fully hope that the number of people is going to quadruple thanks to financial services on mobile offered to people not using bank systems“.
Through the framework agreement signed with Bharti Airtel, the VeriFone Mobile Money group is going to operate a complete continuation of the applications facilitating detail payment integrated into the range of its solutions of mobile payment.
The financial transactions can so be made in a faster and more secure way.
Original text by: Blaise AKAME