MoMo surpasses the one million customer mark

By Dineo Faku Time of article published Jun 30, 2020

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JOHANNESBURG - MTN South Africa mobile money (MoMo) app has surpassed the 1million customer milestone, five months after it was launched. 

The company said yesterday that the upswing in the usage of the app that allows people to transfer money and pay bills from their mobile devices, came as the Covid-19 pandemic accelerated the adoption of mobile financial services. 

MTN chief executive for mobile financial services Felix Kamenga said that there had been a jump in registrations and usage since the nationwide lockdown began in late March, specifically in peer-to-peer remittances, with people sending money to family and friends. 

Kamenga added that demand for value-added functionalities like purchasing pre-paid electricity, and renewal of driver’s licence discs, had spiked. 

“We’ve facilitated more than 600 car licence renewals since the service re-opened under revised lockdown level 3 regulations at the beginning of June, and we expect this to remain a key driver of growth as more people begin driving again and go back to work,” Kamenga said, adding that this was a clear indication that South African consumers were ready to embrace the digital world. 

He said innovation was core to the MoMo offering. He said the company yesterday launched a range of exciting new features, including rewards for those referring a friend, MoMo Pay for e-commerce, as well as cash back on airtime purchases. 

The company said yesterday that the upswing in the usage of the app that allows people to transfer money and pay bills from their mobile devices, came as the Covid-19 pandemic accelerated the adoption of mobile financial services.


BUSINESS REPORT 

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