Ghana’s leading Telecommunications Service Provider MTN, currently has over 6.2 million active users on its Mobile Money platform; and over 75, 000 active agents nationwide.
The Mobile Money service is more attractive and impactful because together with 16 partners banks , MTN has developed and deployed numerous innovative financial products at supporting the drive towards a cash lite Ghana.
Speaking at the launching ceremony of Mobile Money Month in Accra, the General Manager for Mobile Financial Services, MTN , Mr. Eli Hini, noted that the success of the Mobile Money service in Ghana is the evident and through the activities scheduled for the month , more of Ghana’s unbanked population will sign on to the digital financial services platform.
According to him, as a result of feedback received from customers this year , MTN , in partnership with Fidelity Bank launched the Y’ello Save Account. This he said, enables customers to save and earn 12% interest per annum on money saved.
Adding that, they also launched TBill4All in partnership with Ecobank to enable Ghanaians to buy Treasury Bills using their MTN Mobile Money wallets .
” One of our biggest areas of focus is enabling payments, and today several payments are now available through the robust Mobile Money Platform . With the Bulk payments solutions , our clients now easily make payments to many customers in one go, useful for salary payments and other disbursements to multiply recipients”, he stated .
The payment of Caterers of the School Feeding Program is done through this MoMo solution.
In the past , the Livelihood Empowerment Against Poverty ( LEAP) initiative also used the MTN Mobile Money platform to reach beneficiaries in real time , thus ensuring transparency and accountability.
Aside bulk payments, individuals can make payments on recurring expenditure easily and conveniently from the comfort of their homes or offices ; DSTV , ECG, school fees and recently water bill payment are all examples. Some food joints and shops have also embraced the Mobile Money as a model of payment.
Mr. Hini, said in order to support Mobile Money payments the “Tap2Pay ” solution was introduced earlier in the year with the use of Near Field Communications ( NFC) technology .
This is one of the easiest ways of making payments as it eliminates the need to navigate through the Mobile Money menu to make a payment .
“As the wind of digitization blows over Ghana and Africa , digital payment options are expected to lead economic transformation. But economic transformation through digital financial services is being challenged by the activities of some nefarious individuals. I would encourage everyone to be extra vigilant of fraudulent acts and activities,” he advised.
According to him, MTN will continue to work with relevant stakeholders—Police , Media , E-Crime and others to mitigate the fraud menace.
He also encouraged customers to take advantage of the short videos and safety trips on mobile Money and fraud avoidance to educate themselves.
Adding that, MTN Mobile Money Service is ISO / IEC 27001 : 2013 certified, which simply means that they have passed all security tests and requirements. This should give our customers confidence and assurance that MTN Mobile Money is very safe and convenient.
This year’s Mobile Money Month is being celebrated under the theme : “Expanding Digital Payment for Economic Transformation”.