MTN Mobile Money Makes Giant Strides

Telecommunications giant MTN Ghana says 400,000 of its subscribers transact businesses through the MTN Mobile Money, which is gaining grounds in the West African second largest economy.

Over two million subscribers nationwide are currently on what industry players, notably MTN Mobile Money, Airtel Money, and tiGo Cash, believe to be the fastest and secure way to send and receive money via a communication gadget.

The Senior Commercial Manager of MTN Mobile Money, Eli Hini, told the Business Chronicle that his outfit transacted about 600,000 mobile money transactions from January to March this year, while 200,000 transactions were transacted last year.

He was quick to add: 'We have 20% of the total number of our subscribers registered on mobile money.'

On geographical coverage, Mr. Hini revealed that there were over 70 service centres located across the length and breadth of the country transacting mobile money services to MTN and other subscribers.

According to him, they had over 5,000 merchant points located in all the Metropolis, Municipalities, Districts and key towns across the country.

In addition to these, the Senior Commercial Manager of MTN Mobile Money stated: 'Mobile money is available at all MTN offices, and connects shops across the country. There are over 70 service centers across the country.'

Mr. Hini mentioned Ecobank, Fidelity Bank, CAL Bank, Agricultural Development Bank (ADB), United Bank for Africa (UBA) Ghana, Zenith Bank, Merchant Bank, Access, GT Bank, and Stanbic Ghana, as the partner banks of MTN Mobile Money.

When quizzed whether the operation of the MTN Mobile Money had been authorised by the National Communications Authority (NCA) and backed by law, he answered in the affirmative.

Touching on the differences between MTN Mobile Money and the other two competing mobile money service providers, Mr. Hini explained: 'The differences are mainly in following areas -

The services we offer; and number and partner banks - we have highest 10.'

'In addition, we are the first to launch, and market leaders in the industry. Otherwise, the concept is the same - mobile wallets,' he added.

Mr. Hini encourages all and sundry to register and use the mobile money and become an advocate for this wonderful service, saying it is faster, convenient, and fraud free.

He expects mobile money, in the next five years, to change the payment landscape in Ghana, and increase the percentage of subscribers using the service in the West African country.

'The plan is already ongoing, using various platforms including the media to educate MTN and other subscribers about the numerous benefits of using mobile money,' he said.

According to the Senior Commercial Manager, a month had been dedicated in the year to create awareness on mobile money.

The month of August was dedicated last year to educate people on how they could use mobile money to effect payments of various forms.

'We also used the month-long awareness campaign to set the agenda for creating a cashless society in Ghana, and a round table conference was organised in that regard,' Mr Hini noted.