Airtel Money users in Kenya can breathe a sigh of relief as they welcome a move to drop the requirement to make withdrawals from other cash transfer service providers within a week.
Effective February 6, 2024, Airtel Money users will no longer be constrained by the seven-day validity period to make withdrawals for cash wired from other networks.
This move marks a pivotal shift, allowing users the flexibility to keep money sent to them for as long as they desire, and withdrawing at their own convenience.
The removal of the withdrawal code, which previously mandated cash withdrawals within seven days of receipt or risked the amount being returned to senders, is a result of collaborative efforts between industry players and the Central Bank of Kenya (CBK).
This move aligns with the CBK’s National Payments Strategy 2022-2025, which aims to foster seamless mobile money interoperability.
Anne Kinuthia-Otieno, the Managing Director of Airtel Money, said this move aligns the telco’s with customer-centric values, industry growth, and innovation. The ability to conduct direct wallet-to-wallet transfers across networks represents a significant benefit for Kenyans, reflecting a commitment to enhancing customer experience and promoting financial inclusivity in the country.
Ashish Malhotra, the Managing Director of Airtel Kenya, noted that the broader implications of this change go beyond facilitating easy cash flow and expanding the mobile money market, as it promotes real-time transactions and streamlines user experience.