Centenary Bank has partnered with Airtel Uganda to officially launch the Mobile Wallet service, an innovative financial service that enables the bank’s customers to access, deposit and withdraw money from their bank accounts using their phones.
The Mobile wallet service is an additional feature on the bank’s 24 / 7 mobile banking platform dubbed CenteMobile. Other financial services on the CenteMobile platform include; transfer of funds, payment of utility bills (e.g. NWSC, electricity on Yaka and postpaid, pay TV), request for mini statements, and fundraising among others.
At the launch of the service, Fabian Kasi, Managing Director Centenary Bank noted that the innovation was a great opportunity for the Bank to simplify and make banking more convenient for the everyday person by utilizing the latest and best technology available.
“We realized that there is a need to serve more people with less structured costs. These partnerships have transformed the industry,” he added, revealing that about Sh8bn is transacted from centenary bank accounts to phones and about Shs4bn from phones to bank accounts.
With Mobile Wallet, Airtel Money customers who have accounts with Centenary Bank will be able to deposit mobile money directly to their phones.
Airtel Uganda MD, Mr. Tom Gutjhar said, “We are proud to be associated with Centenary bank, each development and partnership that involves Airtel Money is ultimately designed to ease the lives of our mutual customer. We look forward to forging more of these innovative partnerships and ultimately making Airtel Money the number one partner of choice in mobile banking,” Gutjhar concluded.
To access the Mobile Wallet service, one has to be registered with CenteMobile first. CenteMobile can be accessed on any type of phone and as an application on smart phones.