Airtel Money (M-KOUDI) is the largest mobile financial service in Niger. It is powered by Mahindra Comviva’s mobiquity® Money. Airtel Money creates a Stored Value Account (SVA) linked to customer’s mobile number. The service can be used by the customers for domestic person to person transfers, international remittances, bill payments, merchant payments, transit payments, banking transactions and financial aid disbursements. It has allowed the country to ‘leapfrog’ traditional infrastructural limitations, like lack of banking facilities, and has become the key driver to social and economic change.

On the social front, Airtel Money has brought many unbanked Nigeriens into the mainstream of the economy. It has increased financial inclusion, as many of its customers were previously unbanked. It provides is quicker, safer and convenient means of transferring money and making payments compared to cash, allowing its users to spend more quality time with their family. It helps to speed up disbursement of aid in emergency situations such as drought by leveraging agent network on the ground.  

On the economic front, Airtel Money solves the problem of small change during merchant payments, which stimulates even more purchase transactions. It enables businesses by making it easier to pay to creditors, suppliers, or employees with mobile money. For public utility companies such as electricity and water, Airtel Money enables faster collections and prevents revenue leakage.   

Christophe Erny, Vice President, Market Unit, Mahindra Comviva said, “The award validates Airtel Money's ability to catalyse social change with life changing solutions and Mahindra Comviva's expertise in powering such solutions. It further recognizes our efforts to innovate and make an impact towards the overall betterment of the society. We will continue to partner Airtel in delivering life transforming services that enriches the life of Africans.”

Abdelkader Babakodo, Marketing Director, Airtel Niger said, “96.5% of Niger’s adult population is financially excluded, limiting their participation in the economy. On the other hand mobile phone penetration is as high as 35%. Airtel Money fills this gap as it leverages the ubiquity of mobile phones and Airtel’s agent network to deliver quick, secure, affordable and convenient digital payment services to the unbanked and thus brings them into the formal economy. We are happy to say that in a short period of time, Airtel Money Niger has succeeded to bring in socio-economic transformation on a scale. We are proud of this win as it is a validation of our hard work in the country.”  

Speaking on the occasion, Srinivas Nidugondi, SVP Mobile Financial Solutions, Mahindra Comviva said, “We are very happy to win the WAMAS 2017 with Airtel Niger.  Airtel Money is the connective tissue to Niger’s society and economy. In a very short time it has brought major transformation in the lives of ordinary people, bringing smiles to the faces of many. We are glad that Mahindra Comviva’s mobqiuity® Money platform is playing a part in this transformation in West Africa.”

The WAMAS recognize the leading women, men and organizations for their key contribution towards furthering the mobile industry in West Africa.  The awards chart how mobile connectivity is having a fundamental impact on almost every aspect of the region. The 2017 edition of WAMAS drew over 150 submissions from across 14 countries.

Mahindra Comviva is the global leader in the mobile financial space. Its mobiquity® Money platform has clocked 64 deployments in 49 countries processing 3 billion transactions valuing $55 billion annually. mobiquity® Money delivers a host of mobile commerce services that transforms the way consumers save, borrow, transfer and spend money. It is designed to seamlessly integrate consumer touch points with a wide ecosystem of banks, billers, merchants and third-party payment systems, creating a convergence powered by interoperability. Apart from delivering convenience to consumers, the solution enables service providers to acquire new customers, create long-term loyalty with existing ones, and seize new revenue opportunities to increase their footprint in the market.