Standard Chartered Bank and Airtel Ghana Limited are collaborating on a mobile wallet in the West African country.
The Straight2Bank Wallet, which first debuted in Kenya in 2013, lets companies, government bodies and development organizations make cashless payments to both banked and unbanked individuals. Standard Chartered has been offering mobile money services in Africa for years, helping launch e-commerce services in Kenya in 2011.
Through the wallet, Standard Chartered clients can use the Straight2Bank platform to send payments directly to an Airtel Money mobile wallet. The service is meant to facilitate secure payments, reducing the risk of fraud and theft seen with cash payments.
“Mobile wallets not only bring operational and cost efficiencies to our clients, but also mean individuals receive their funds through secure channels – another way we are supporting Ghana’s Central Bank to foster a cash-lite economy,” said Kweku Bedu-Addo, Standard Chartered Bank West Africa's chief executive, in a press release.
Beyond Kenya and Ghana, the Straight2Bank mobile wallet has been deployed in Nigeria, Tanzania, Zambia, Pakistan, Bangladesh, the Philippines, Thailand, Indonesia and Vietnam.