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Mobile money users get ATM access

13 November, at 10 : 17 AM Print

Mobile money users get ATM access

Airtel Rwanda is officially the first mobile telecommunication company in Rwanda to provide money transaction services through automated teller machines (ATMs).

Airtel Rwanda, Rwanda’s national payment {RSwitch} and I&M Bank signed an agreement to provide mobile money customers with access to automated teller machines (ATMs).

The deal was signed during the just concluded TransformAfrica ICT Summit in Kigali.

The move comes at a time when Rwanda is experiencing a high mobile phone penetration and a tight telecommunications competition, with the use of Mobile money services becoming increasingly popular countrywide.

RSwitch Company is in charge of facilitating all electronic payments, especially distributing ATM in the country. The new system will allow Airtel mobile users to access money anywhere across the country.

Konde Bugingo, the RSwitch chief executive officer, said the facility has started with Airtel and I&M Bank, but other telecoms and banks will soon come aboard. Tigo and MTN telecommunications have also expressed interest in the service.

Over 1.7 million subscribers were registered on the mobile money platform by March 2012. The figure rose to 639,000 subscribers by the end of 2012.

MTN Rwanda affirms they invested over Rwf90b in the Mobile Money project.

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