MTN MoMo customers can now shop outside Uganda
September 25, 2018— MTN MoMo customers in Uganda will soon be able use a virtual card to shop or make payments at the vast network of global outlets accepting Mastercard payments.
This follows an announcement recently in which the teleco has partnered with Mastercard and United Bank for Africa to offer a new service that will enable quicker, safer and more convenient online payments globally.
Wim Vanhelleputte, the Chief Executive Officer of MTN Uganda said, “MTN MoMo is helping to connect more Ugandans to new forms of commerce. Our affordable mobile financial services are positively impacting communities and lifestyles in Uganda. This is evidenced by the phenomenal growth in both the number of customers and volume of transactions over the years.”
The launch of the virtual card that is known as MTN MoMocard will ensure MTN’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio. Additionally, the partnership will result in a wide range of cutting-edge digital payment solutions being introduced in Uganda.
The MTN MoMocard is powered by UBA, which facilitates the payment transactions online, both locally and internationally. “UBA is excited to be the bank partner with Mastercard and MTN on this milestone project that not only enhances convenience for mobile money customers but also the utility of the service. The bank recognizes the role of technology in enhancing financial services delivery and welcomes future similar partnerships,” Johnson Agoreyo, the UBA Managing Director/Chief Executive Officer said.
Ngozi Megwa, Vice President Market Development, sub-Saharan Africa for Mastercard said, “Besides the ability to connect more consumers to a solution that enables them to pay without cash, the virtual card also supports the growth of e-commerce in Africa and supports businesses who want to appeal to a wider audience. Digital payments is shaping commerce, the backbone of any economy. We are excited about the MTN partnership and its ability to connect us with an audience hungry for innovation.”