Airtel Ghana, in collaboration with Rancard has launched a new online store dubbed Airtel Money Market available at www.airtelmoneymarket.com, to provide additional channel for Airtel Money customers and merchants to buy and pay for goods and services. Airtel Money Market runs on Rancard’s Rendezvous Technology product which allows Ghanaians to use social interactions and contributions from trusted individuals as a guide in their decision to buy goods online. The online platform will enable merchants have multiple outlets in addition to opening a virtual store and stocking it with merchandise available for sale. For potential customers that visit the money market, they can window shop, as well as, compare prices from different merchants all from the comfort of their home or office. Speaking at the launch, Managing Director of Airtel Ghana Philip Sowah said the launch of the online store falls in line with Airtel’s quest to introduce innovative products which customers will find beneficial to their daily lives. “The Airtel Money Market is just another addition to the many other packages that we have added since the launch of Airtel Money. As you know our customers are able to contribute to their investment portfolio, we have insurance packages and of course the payment of utility bills including DSTv and the convenience of linking bank accounts to the Airtel Money platform as some of the many benefits derived from Airtel Money”, Mr. Sowah. Director for M-Commerce at Airtel Ghana, Kola Sonola explained that the rationale for creating the Airtel Money Market among others is to increase the channels for Airtel Money customers to do more with the service whiles positioning Airtel Money as an easier payment solution for online shopping. Mr. Sonola added that the creation of the online shopping portal will help merchants with cash mobilization and also increase self-initiated transactions. Explaining how Airtel Money Market works, Mr. Sonola said “the process is simple, much like making purchases though recommendations on a regular social commerce website. When a user checks out of the virtual store after making all their purchases, they receive an SMS message asking for a confirmation of the order and payment amount. Once the user selects send, the money is transferred to the retail vendor, and the user receives another text message with a purchase code. This purchase code is then used to identify and pick up their order from the merchant”. The Managing Director of Rancard, Kofi Dadzie said the possibilities for Airtel Mobile Money/Airtel Money Market using Rancard's Rendezvous product to create new markets by making social commerce available through online merchant portals is endless. He said it gives the African consumer an opportunity to buy products based on viable recommendations. “Africa's growing middle class provides a burgeoning market that can be energized to create greater demand in online shopping through social recommendations - this is what Rendezvous extends with the world of social commerce”, he said. According to him, the big picture for Rancard's Rendezvous product technology is the unleashing of social commerce, a natural form of driving sales in a connected and mobile environment. Rancard's PayApp is a gateway that extends Airtel Mobile Money with online purchasing capability providing a complete solution that commences with social commerce enabled by Rancard Rendezvous. Silverbird, Appliance Masters, Compu-Ghana, Sunshine Salad Bar, Crossroads Restaurant, ticketdoug.com, Office Connexion and Niobe Salon & Spa Limited have so far signed onto the Airtel Money Market.