Airtel scraps fees on electricity units
Mobile digital payments firm, Airtel Money last week announced removal of a K200 transaction fees for customers purchasing electricity tokens.
In a statement, Airtel says this follows a recent reduction of cash-out fees and revision of agent commissions for cash-in and cash-out transactions.
It also announced to have directly linked its platform with the Electricity Supply Corporation of Malawi, whereby previously, the two systems were linked through a third party.
The direct link between the platforms will ensure a seamless experience for customers with minimal system interruptions.
Speaking in an interview, Airtel Money Director, Polycarp Ndekana, said the firm is optimistic of registering more customers.
“From our experience with previous revisions, we are confident that it will generate more customers from increased transaction volumes,” Ndekana said.
The director added that the permanent revision which is aiming at bringing financial services closer to customers by making them affordable.
The company has also reduced cash out fees on subscribers from a minimum of K20 (on a transaction band of K50 and K499) to a maximum of K7, 000 (for a transaction band of K400 thousand to K750 thousand).
The Reserve Bank of Malawi entered into discussions with different companies for possible cushioning measures amid economic hardships emanating from the Covid-19 pandemic to which Airtel agreed to implement some.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.