MTN slashes Mobile Money tariffs

November 7, 2016 in Business, Companies, Technology & Telecoms by Editor

KAMPALA, NOVEMBER – 7- MTN Uganda has reduced the cost of sending low value transactions via its Mobile Money platform, in a potentially disruptive move just on the shoulder of the festive season.

The reductions, equivalent to 64 percent for the smallest transaction tier of Ushs500 to Ushs2500, apply to transaction values up to Ushs45,000. The incentives are expected to generate volume in a segment that represents significant growth potential but has been held back by the high cost ratio.

Customers will now pay Ush180 for transactions between Ush500 to 2500 as opposed to the previous charge of Ush500 which represented cost ration of 100 percent of the minimum transaction value. Transactions between Ushs30,000 and 45,000 will enjoy a 9percent reduction while the intermediate tiers have also see reductions ranging between 20 and 40 percent.

“This offer in line with MTN’s commitment to driving financial inclusion in Uganda while delivering affordable services,” MTN Uganda’s Head of Mobile Financial Services said.