Bharti Airtel and Axis Bank has partnered to launch banking and payment services on Airtel’s mobile platform. This service is called airtel money Super Account powered by Axis Bank that would let customers open savings account in Axis Bank that offers banking transactions including cash deposit, money transfer and withdrawal. The customers would also get savings account interest and also enabling them to make remittances. This service is aimed at remittance corridors and unbanked areas, where there is greater need of easy money transfers and savings.
Infosys is the technology innovation partner. The savings and remittance solutions will be provided in the top 4 remittance corridors involving Delhi and Mumbai on the sending side and Bihar and East UP on the receiving side. It would be extended to other remittance corridors in the country soon.
They also plan to introduce new features such as micro Recurring Deposits, micro Fixed Deposits, small loans and micro-insurance products through this platform.
Airtel Mobile customers can visit nearest authorized Airtel money – Axis Bank outlets and open ‘airtel money Super Account powered by Axis Bank’ on their mobile phones by submitting the prescribed application form and KYC documents.