The MTN Group has announced that the successful launch of Mobile Money Transfer (MMT) in Uganda marks the beginning of a series of planned launches across its operations in Africa and Middle-East.
The product, called MTN MobileMoney, is a convenient, secure and affordable way for MTN subscribers to send money, buy airtime and pay bills using the mobile phone. Whether users have an existing bank account or not, they can register for MTN MobileMoney as long as the sender is an MTN subscriber. Those who do not have MTN SIM cards or even a phone can still receive money from MTN MobileMoney users and send money through a network of agents in their country.
MTN has been piloting MMT services through MTN Uganda and at the Group’s West and Central Africa (WECA) region operations (Cameroon, Ghana, Cote d’Ivoire and Nigeria) since October 2008. Four additional pilots were recently launched in Benin, Guinea Bissau, Guinea Conakry and Liberia.
The pilots are aimed at waterproofing the systems and operational processes in preparation for the commercial launch. MTN’s WECA region vice-president, Mr Christian de Faria says the pilots are assisting with fine-tuning the processes and systems and have given MTN the first insights into subscriber demand. “Initial subscriber responses in the different countries have been encouraging and we are confident that the service could be introduced rapidly in our various markets.”
In each market, MTN has partnered with local banks to ensure that its MMT services are fully compliant with financial services regulations. Discussions are currently on-going with relevant authorities in various countries to ensure that all regulatory requirements are met.
Says MTN Group Executive, Corporate Affairs, Ms Nozipho January-Bardill: “The piloting of MTN’s MMT services reaffirms MTN’s leadership in telecommunications and the company’s commitment to providing products and services that meet customers’ needs and expectations. We believe our MMT offering will make money transfer and basic payments more convenient and more affordable to our subscribers. We acknowledge our partner banks and the banking regulators in our different markets for the enthusiasm and support they are giving us.”
ABOUT THE MTN GROUP
Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN”. As at 30 September 2008, MTN recorded 80,7 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. The MTN Group is a global sponsor of the 2010 FIFA World Cup South Africa™ and has exclusive mobile content rights for Africa and the Middle East.