News Column

Massive Uptake of MTN Ghana Mobile Money

June 18, 2014

Masahudu Kunateh

MTN Ghana, the telecommunications giant, MTN Ghana has announced that more than 5 million subscribers are transacting businesses through its Mobile Money service in a month.

Out of that figure over two million are registered on the platform, officials of the telecom service provider told CAJ News Ghana Bureau.

According to officials, the figure is higher than the monthly transactions of some of the commercial banks.

"The growth of Mobile Money rather complements the business of microfinance/banks because it provides tools/solutions to enhance their offerings/services.

" Customers are now able to receive their loan disbursements into their Mobile Money wallets wherever they are and are able to make loan repayments without visiting the branch," said Senior Commercial Manager of Sales and Distribution at MTN Ghana, Eli Hini.

In an effort to bring mobile money service to the doorsteps of subscribers, said his outfit had partnered a number of banks including Access Bank, Agricultural Development Bank (ADB), Cal Bank, Ecobank, Fidelity, GT Bank, Universal Merchant Bank, Stanbic, UBA and Zenith.

He explained the differences between MTN Mobile Money and the other competing mobile money service providers.

"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.

Hini encouraged members of the public to register and use the mobile money and become an advocate for the services, saying it was faster, more convenient and fraud free.

He expected 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.

"Our ambition is to see mobile money becoming the leading mode of payments in Ghana, Africa and the world and driving cashless transactions in the next five years.

"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.

MTN Mobile Money is available in all the 77 MTN service centres and connects stores doted across the country.

The services are also available at the partner banks.

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Source: AllAfrica

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