Airtel Money customers can now deposit and withdraw cash at more than 22,000 KCB Bank agents across Kenya following a new partnership between the two firms.
The move is expected to expand access to financial services while strengthening interoperability in Kenya’s fast-growing digital payments ecosystem.
Under the agreement, Airtel Money users will be able to access cash services through KCB’s nationwide agency banking network, making transactions more convenient, particularly in areas where Airtel Money agents may be limited.
Customers will only need a valid national identification document and a registered Airtel Money account to use the service. Deposits will be free while standard withdrawal charges will apply.
The partnership comes at a time when financial institutions and mobile money providers are increasingly working together to improve access to digital financial services and reduce barriers between different payment platforms.
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Airtel Money Kenya Managing Director Anne Kinuthia-Otieno said the collaboration will help bring financial services closer to more Kenyans while supporting the company’s growth ambitions.
The deal also strengthens Airtel Money’s distribution network as it seeks to increase its footprint in Kenya’s highly competitive mobile money market.
For KCB, the partnership further expands the role of its agency banking business, which has become a key channel for serving customers outside traditional bank branches.
The lender says non-branch channels now account for 99 percent of all customer transactions, reflecting the growing shift towards digital and agent-based banking services.
The agreement also follows KCB’s acquisition of Riverbank Solutions, a move aimed at strengthening the bank’s digital payments, social payments and enterprise resource planning capabilities.
Industry analysts view increased interoperability between banks and mobile money providers as a critical step in advancing financial inclusion by enabling customers to access services across multiple platforms with greater convenience.
As digital payments continue to grow in Kenya, partnerships between financial institutions and mobile money operators are expected to play a larger role in expanding access to affordable and efficient financial services.
