The West African nation of Chad will be joining the pan-African push for mobile payments. Airtel Chad, a part of India-based wireless carrier Bharti Airtel, announced it is partnering with Ecobank to launch Airtel Money. The effort is the first mobile commerce product in Chad and will help the country's many unbanked consumers carry out financial transactions using their mobile devices.

"This service allows customers to send money to their relatives, pay essential bills such as electricity and water, tuition fees, [travel] bookings and even buy groceries without having to carry cash," said Airtel Chad's CEO Salia Gbane. "The phone essentially becomes an electronic wallet."

"This partnership clearly demonstrate the revolutionary role that mobile communications can play in improving the living conditions of the communities that we serve," Gbane said.

According to the company's announcement, the new service is meant to offer Chad's many unbanked consumers a simple and safe option for financial services. Airtel customers, once registered, need only a mobile phone and a personal password to complete transactions.

Major players such as banks and mobile operators have expressed an interest in providing financial services to the many unbanked consumers in Africa, Airtel said. The company is already offering mobile payment services in many of the countries it serves across African and Asia.

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