MTN, Ghana’s leading mobile telecommunications company, has made payments of over GH₵ 8.85million in interest to about 5.8 million Mobile Money customers.
The payment, which was made on November 20, 2016 was done in collaboration with the 16 partner banks of MTN Mobile Money.
Following the issuance of the E-Money Issuers Guidelines, the Bank of Ghana approved the payment of interests to Mobile Money subscribers in September 2016. MTN paid a total of 13.4 million cedis as interests to subscribers for the first and second quarters of 2016. This payment therefore brings the total to over 22 million Ghana cedis.
Commenting on the 3rd quarter interest payment, the General Manager for MTN Mobile Financial Services, Eli Hini said, “MTN is committed to making Mobile Money more beneficial to subscribers beyond the convenience it provides and this payment points to that fact.
Mr. Hini urged all Mobile Money subscribers to cultivate the habit of keeping money in their wallets at all times to enable them undertake numerous transactions on the go.
MTN Mobile Money has close to nine million subscribers with over 55,000 merchant points across the country.
There are a myriad of services available on the platform and these include: Local Money Transfer, International Money Transfer, General Payment Services including Online Payments, Savings & Micro-loans, School fees payment, Insurance i.e. Mi-Life (the cheapest life insurance service in the market) Bill Payment Services (DStv, ECG, Gotv, Box Office), ATM – Card less Withdrawal (expanded to 6 Banks ATM), Link to Bank Account (Mobile Wallet to Bank Integration) and Bulk Payments.