Airtel Zambia has launched a new payment solution called Airtel Money Pay which is a Merchant Wallet specifically targeted at the informal sector to help them separate Business and Personal transactions without the need for documents that would normally be required to register.
Speaking during the breakfast launch today, Minister of Technology and Science, Felix Mutati says the government is aware of the role that mobile money plays in the economy and it is projecting this year that mobile money transactions will exceed K200 Billion.
Mr. Mutati said the government needs to begin to think through on how that mass of cash can be used to drive liquidity in the economy to drive the reduction of the cost of money and motivate investment in the country.
The Minister said that there must be solutions on how that volume of circulation can be used to create liquidity to reduce the cost of money.
And Airtel Managing Director Apoorva Mehrotra said Airtel Money is embarking on a journey to help digitize payments for Micro, Small and Medium Businesses in Zambia and help to realize the dream of a cashless economy.
Mr. Mehrotra said the imitative will enable micro-merchants to access products like savings and loans and enable the transition towards a digital economy for the country.