MTN Zambia, Stanchart Bank launch Straight2Bank wallet
Standard Chartered Bank Zambia has partnered with MTN Mobile Money to launch the mobile money service Straight2Bank Wallet. Zambia is the sixth market in Africa to benefit from Standard Chartered's Straight2Bank Wallet - a mobile wallet service that enables businesses to make cashless payments directly into the MTN Mobile Money Wallets of both banked and unbanked individuals.
With this new payment channel, Standard Chartered Bank's Zambian corporate clients can use the Straight2Bank electronic banking platform to make payments directly into an individual's MTN Mobile Money wallet. This allows clients to effectively reach out to their beneficiaries with timely payments, while mitigating the risk of fraud and theft associated with cash payments.
Source: Telecomaper 6 April 2016