For 13 years, MTN has bestridden the payment space like a colossus. MTN South Africa’s Mobile Money was officially switched on exactly 13 years ago today in a partnership arrangement with Standard Chartered Bank, South Africa.


According to available data, the platform currently processes 175 million transactions a month with a monthly value of about $4 billion. “It’s been a long road to being active in over 12 African countries. MTN Mobile Money has been changing lives, building Africa, serving customers and delivering transactional values. It has also been another stunning example of innovation in Africa”

When MTN deployed its Mobile Money banking service in South Africa with Standard Chartered Bank, the service was designed as a complementary service for customers who already have accounts, and as such, the service offers a wide range of services, including the option of a credit card.

The leading African telecom company in 2009, extended it the digital payment platform beyond its country of origin to six other markets by launching Mobile Money services in Ghana, Uganda, Rwanda, Cote d’Ivoire, Benin, and Yemen.

From this regional foray, the focus changed from added value to bank account holders to transformational services for the unbanked with a simpler service proposition based on money transfers and airtime purchases.

Recently MTN Group reported strong revenue increases in four of its mobile money markets in the opening quarter of 2017. The company’s first quarter earnings statement revealed rising revenues in Uganda, Ghana, Ivory Coast and Cameroon, but provided little detail on the actual amounts generated in those, or its other markets’, mobile money services reports financialtechnologyafrica.com

Cameroon was its fastest growing market in terms of mobile money with revenue up 390% during the quarter. In Uganda, revenue was up 34 per cent quarter-on-quarter and accounted for 22% of MTN’s total revenue in the country.

In Ghana, mobile money generated 13% of MTN’s overall earnings during the first quarter while finance and payment services in Ivory Coast accounted for 33% of total revenue.

Due to the lack of a breakdown of figures for MTN’s other markets or specific revenue information, it is difficult to assess its performance, as year-on-year comparisons were also not available.

The operator group provides mobile money services across 15 markets serving 22.2 million customers, according to the latest published figures on MTN’s website.

SOURCE: https://brandspurng.com/mtn-13-years-in-the-mobile-money-space/

Cool

Good for them

Mobile money is a good venture

@Fearlez

Yesterday you wanted to know if MTN operates mobile money in south Africa. Please read and digest. Every product has its unique target market.

Read and digest.

Does it work in Nigeria?

mtn, my first n only love in Telecom biz

13 years still waxing strong

stevnwigw:
Does it work in Nigeria?

that is the question
why is mobile money not working in Nigeria
the answer is simple
our banks are competent.
yes the banks are even playing in the mobile money space with excellent delivery system via the USSD channel.
also, mobile money is capital intensive and those who are willing to invest must be ready to spend without breaking even in a short time.

What would I have done without mobile banking? Life will be horrible

I hardly carry cash around.. Thanks to technology.

Most ppl are commenting out of ignorance. The ops thought is potraying relevance of mobile money in subsaharan African countries which has yielded intrest over time through mtn.

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Stable and expensive

MTN has been consistent and reliable

emmanwandud:
Most ppl are commenting out of ignorance. The ops thought is potraying relevance of mobile money in subsaharan African countries which has yielded intrest over time through mtn.

They are calling south Africa kenya and other African countries what of Nigeria?
Mobile money by mtn here is a scam many accredited agents were left stranded after committing personal fund into the venture.God punish Mtn in Nigeria

I think MTN is still the best network in Nigeria and that's because they have sensible people managing their network, some south African, Nigerians and Chinese.

Airtel and Glo is bullshi.t because they are managed by Indians. They only thing Indians know is to manage with poor quality. They will never give you better service, only interested in making money.

Good for you

Moving ahead

I do not know why Nigeria is not using Mobile Money to empower millions by creating millions of jobs as it is done in other African Countries especially Kenya. The success of this ecosystem in Kenya especially ( Mpeza) , is a model for people worldwide.

However, in Nigeria, politics and due to the interest of Commercial banks, have prevented our CBN to effectively introduce Mobile Money thereby foreclosing the millions of jobs and income that could have been created especially for youths. The CBN while Sanusi was the Governor introduced Mobile Money in Nigeria but instead of it been led by the Mobile Network who are used to retail, with the millions of Agents selling Airtime, Nigeria insisted that our form of Mobile Money should be Bank Led. This killed Mobile Money from the start in Nigeria. Banks are used to big money business rather than a business like Mobile Money which will involve millions of people who may not already have access to financial services (unbanked) to have access to money transfer, micro finance and trading using just their Mobile Phone.

Until the Government allow our Mobile Network to run Mobile Money in Nigeria as it is done in most other African Countries, the massive opportunities in this sector to provide millions of employment may continue to elude us.

MTN explored the vacuum in the market and lead d pack forever




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Fresia01:
mtn, my first n only love in Telecom biz

We lost today .....we didnt play very well..

Christaks:


We lost today .....we didnt play very well..

It was a very painful defeat

Fresia01:

It was a very painful defeat

Very painful...i must say..