Airtel Money customers can now make direct payments to I&M Bank merchants across the country, following a strategic partnership signed between the mobile money operator and the lender.
This collaboration aims to streamline digital commerce by allowing seamless transactions between Airtel Money wallets and I&M Bank’s extensive merchant network.
The move is a significant step toward bridging the gap between mobile money and banking infrastructure. Airtel Money Kenya Managing Director Anne Kinuthia-Otieno highlighted the necessity of such integrations, noting that over 90 percent of Paybills in the current market are bank-owned. She explained that partnering with institutions like I&M Bank effectively eases wallet funding and bill payments while expanding customer choice through a broader merchant ecosystem.
Beyond the convenience of interoperability, the partnership comes with a substantial incentive for consumers. Airtel Money has announced a guaranteed 50 percent cashback in the form of airtime for all Paybill payments made through this channel, aiming to drive uptake and reward loyal users.
This Kenyan agreement builds upon a similar successful model established between Airtel Money Tanzania and I&M Bank Tanzania. Kihara Maina, I&M Bank Regional CEO and Interim CEO for Kenya, described the collaboration as a concrete step in the bank’s regional digital strategy. He emphasized that the partnership deepens interoperability and supports the small businesses that power the regional economy.
Mr. Maina added that the joint effort demonstrates a shared commitment to building integrated digital payment ecosystems across East Africa, allowing both organizations to leverage shared learnings and scale innovations faster.
Customers wishing to utilize this new service can do so via USSD or the mobile app. To pay an I&M linked merchant, users can dial *334# or launch the MyAirtel App, select the “Paybill & Till Payments” option, and choose “Airtel Paybill.” They must then enter the specific I&M Paybill number 542542, followed by the merchant’s reference number, the amount, and their PIN to complete the transaction securely.
The service is live effective immediately, reinforcing Airtel’s position as a leading mobile money operator and I&M Group’s vision for borderless banking.
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