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Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. [3] The company is a subsidiary of Bharti Airtel . [ 4 ] On 5 January 2022, it was granted the scheduled bank status by the Reserve Bank of India under the second schedule of RBI Act, 1934 .
The Airtel Money platform is a primary contributor to financial inclusion and a key point for financial inclusion with over 5 million customers as at 31 March 2018. Airtel Uganda launched Mobile Commerce in 2012.
Airtel has started a new mCommerce platform called Airtel Money in collaboration with Infosys and SmartTrust (now Giesecke & Devrient). The platform was launched on 5 April 2012, at Infosys' headquarters in Bangalore. Using Airtel Money, users can transfer money, pay bills and perform other financial transactions directly on the mobile phone. [49]
Fintech partnerships like Airtel Africa teaming up with Mastercard look to be the next frontier of growth for mobile money in Africa.
In 2015, he became the CEO of Airtel Money Services Limited, which was later renamed Airtel Payments Bank. [5] Khera was named a Young Global Leader in 2011 by the World Economic Forum. [6] Khera is the founder and Chief Executive Officer of the Financial Inclusion Network and Operations (FINO).
Airtel Africa plc is a British company that provides telecommunications and mobile money services in 14 countries in Africa, primarily in East, Central and West Africa. Airtel Africa is majority owned by the Indian telecommunications company Bharti Airtel .
Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India 's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17.
All which would run on Airtel Kenya's network, a move that was opposed by the Consumer Federation of Kenya, Safaricom and Telkom Kenya [4] For the bank, the move was aimed at lowering their transaction costs by up to 47% as well as an added revenue stream by providing money transfer and other telco services to their 14.3 million customers. [5]
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