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08.08.2020 Business & Finance

COVID-19: MTN MOMO Encourages Use Of Digital Payments As It Celebrates MOMO Month

Eli Hini - GM Mobile Money Ltd delivering an address at the launch
LISTEN AUG 8, 2020
Eli Hini - GM Mobile Money Ltd delivering an address at the launch

Accra, August 7, 2020 - MobileMoney Limited is encouraging subscribers to use MoMo for all kinds of payments to reduce the use of cash in this period of COVID-19.

The call was made at the launch of the 2020 edition of the Mobile Money Month which is being celebrated under the theme, “the Relevance of MoMo in a Covid-19 world’. The theme was selected to reiterate the agenda MTN MoMo set a few years ago to advocate for a Cash- Lite Society and the use of MoMo for all forms of financial intermediation including payments.

Speaking at the launch which was held at the MTN Head Office and streamed live on MTN Ghana’s Facebook page, the General Manager for MobileMoney Limited, Eli Hini said, “Today, under the unfortunate circumstance we find ourselves as a people, we realize that our foresight and relentless investment in MTN MoMo at a time when many shied away from the prospects is paying off.

This is because in this period of limited movement, MoMo comes in handy. We, therefore, encourage the use of MoMo for e-commerce activities, transfer of money to help friends and family, payments for various activities including tithes and offerings, social donations (weddings and funerals) and other forms of financial transactions.”

Mr. Hini commended the Central Bank for adjusting policies as part of their COVID 19 initiatives to allow the increase in wallet and transaction limits as well as the use of validated GSM data to activate mobile money wallets. This was collaborated with the waiver of fees for transactions up to 100 Cedis daily till the end of June and further extended by MobileMoney limited to the end of September 2020. He also noted that the launch of the Digital Financial Services Policy earlier in the year will among others drive the expansion of Digital Payments, support the growth of FinTechs and deepen financial inclusion in Ghana.

MTN MoMo has made significant investments on the mobile money platform to allow the payment of various goods and services by creating a good number of Merchant outlets across the country that accept payments through merchant ID numbers and QR codes.

Aside the advocacy to drive payments through MoMo, the MoMo month celebration will be used to reward a total of 4,000 MoMo subscribers in the months of August and September. High performing Agents and Merchants will also be rewarded. Other activities planned for the month include: a stakeholder forum which will be held to discuss the growth of FinTechs in Ghana, a digital fair as well as digital quiz competition on various social media platforms to create more excitement during the month.

MTN MoMo took the opportunity to ask customers to remain vigilant and avoid activities that will make them compromise their MoMo PIN. MTN will call customers if they win any promotion with its official number 0244300000.

MTN MoMo Month was instituted in 2012 and has for the past eight (8) years been instrumental in driving awareness, influencing policy, and deepening the use of MoMo services. Over the years, the MoMo Month celebration has contributed significantly to driving adoption and acceptance of e-money nationwide.

About MTN Ghana/MobileMoney Ltd

MTN Ghana is the market leader in the increasingly competitive mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay Monthly, Pay As You Go Services, and Mobile Financial Services. MobileMoney Ltd is a subsidiary of MTN Ghana responsible for Mobile Financial Services. Launched in 2009 with less than 100,000 MTN MoMo has 14 million registered subscribers.

MobileMoney Ltd works with 18 partner banks and more than 124, 000 agents across the country. By the end of quarter one of 2019, 411million transactions had been done on the MoMo platform. Between 2016 and 2018 a sum of GHS 139million cedis was paid as Interest to over 10 million customers. For further information, visit www.mtn.com.gh.

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