Mobile Money (MoMo) services, powered by MTN Group has recorded its fastest growth in Africa, with Q3 2020 further increasing the trend by the over 42 million users initiating transactions across the 16 markets on the platform.
The growth has been partly attributed to the MTN’s reduction in MoMo transaction fees in many operations to assist customers in battling the impacts of the pandemic.
With 10 years of continuous growth and system improvements, MTN Group remains committed to leveraging its technology to enable a cashless Africa and works in collaboration with strategic business partners to provide additional service offerings that include loans, insurance, remittances, and MoMo Pay.
Using the Mobile Money (MoMo) services platform, customers are able to store more money on their mobile wallets to initiate transactions with registered merchants