Rwanda: Drive Toward Cashless Economy Boosted

Rwanda's push toward a cashless economy has been boosted by the launch of a new drive by Airtel Rwanda, which will see the telecom firm expand its Airtel Money platform to include additional payment options.

The "Pay with Airtel money" campaign also aims at encouraging customers to embrace mobile payments using Airtel Money, as well as providing ease and convenience while carrying out transactions, Teddy Bhullar, the Airtel Rwanda managing director, said.

"We are optimistic that the drive will help create a new wave of accepting payments using the mobile phone technology, thus bridging the gap between the traditional brick and motor modes of payment," Bhullar said at the launch in Kigali on Wednesday.

He said the telecom will add new options of the Airtel Money portfolio - the school fees payment, water and Rwanda Revenue Authority tax payment options by end of this month.

He added that Airtel Money payment gateway promotes financial inclusion.

John Karamuka, the National Bank of Rwanda head of payment systems, said it is economically-beneficial for Rwanda to have less physical cash exchanging hands and lauded telecoms for spearheading the drive to promote mobile payments.

He said last year, there were over 104.8 million mobile payments transactions, underlining the growth of the local mobile financial sector.

Mobile payments continue to grow in Rwanda, thanks to wide mobile technology facilities which play a big role in enhancing electronic payments and usage of mobile-based financial services.

Airtel customers can make payments at their convenience by simply dialing *182# and follow prompts.

SOURCE:THE NEW TIMES