JOHANNESBURG – MTN today announced that its mobile money service, MoMo will go live in January 2020, allowing customers to send, receive, save and spend money as well as pay for goods and services using their mobile phones.
The announcement comes as MTN finalised its engagements with all the relevant regulatory bodies and authorities including the SA Reserve Bank.
MTN welcomes the positive conclusion of these engagements and looks forward to making MoMo available to all consumers via USSD functionality on *120*151# – MTN customers can dial *151# for free – as well as via App download in the Google Play store and the Apple App store by 30 January 2020.
“The introduction of this mobile money service is a pivotal step in MTN’s strategy and represents MTN’s participation in the next phase of increasing convergence we are seeing between financial services and mobile technology,” says MTN SA chief executive Godfrey Motsa.
“We have been deliberate in selecting best of breed technology to enable MoMo. To this end MoMo will run on the Ericsson Converged Wallet and we’re exciting to be partnering with them across the Group,” said Motsa.