Mobile Money Interoperability: What it means and what you should know

Today, the Vice President Dr Mahamudu Bawumia has launched the first mobile money payments interoperability system in Ghana.

Interoperability is the ability for customers to undertake money transfers between two accounts at different mobile money companies or to transfer money between mobile money accounts and bank accounts.

In what appears to be phase one, Mobile money customers in Ghana will now be able to send and receive money directly to and from each other irrespective of the network.

Phase Two of the interoperability platform will complete the Financial Inclusion Triangle by allowing the movement of monies between and among Telcos, banks, and e-zwich accounts in a seamless manner – and the flow is back-to-back.

What is Mobile Money Interoperability (MMI)?

MMI is a service which allows direct and seamless transfer of funds from one mobile money wallet to another across networks.

Why is it important to have MMI?

Prior to the introduction of MMI, mobile money operators largely operated as closed platforms. Users of one network could not directly transfer money to users of other networks. This required Mobile money users to own multiple phones to transact across networks.

MMI will, therefore, enable Mobile Money users of one network to directly and seamlessly send money to other Mobile Money users on other networks.

What are the benefits of the Mobile Money Interoperability (MMI) service?

  • Create convenience for Mobile Money users
  • Drives financial inclusion
  • Lower cost of transactions
  • Increase service reach
  • Reduces reliance on cash
  • 24/7 Access to funds in wallets and bank accounts
  • Ease of moving funds between wallets and bank accounts
  • Ease of receiving and making payments for goods and services

How can I use the service?

MMI service has been integrated into the existing Mobile Money service. Simply dial your existing Mobile money shortcode to access the service. The shortcode also provides users with all MMI functionalities.

How to access MMI on MTN Mobile Money?

  1. Dial *170#
  2. Select Transfer Money
  3. Select Other networks

NB: You can select any of the networks below:

  • Tigo Cash
  • Airtel Money
  • Vodafone Cash

You can also perform a transfer to a bank account which is on the GHIPPS platform. You can perform the following:

  • Wallet to Bank Account
  • Bank Account to a wallet

Once you select any of the options, you will see a list of participating banks. You will be requested to input the bank account number and proceed with the steps to complete the transaction.

The bank services are currently not activated. Updates will be provided in due course.

How do I verify the owner of the wallet or Bank Account I am sending money to?

For every transfer, you will be requested to input the account number twice and at the end of all the entries, the system will return with the name of the customer for confirmation before you enter your pin to complete the transaction.

Who qualifies for this service?

The service is available to ALL existing and future mobile money subscribers.

Do I need an additional PIN to use this service?

A subscriber will use their existing Mobile Money PIN to authorize all transactions to other networks.

How much money can one transfer?

A subscriber can transfer as per their current daily limit allowed on their wallet.

What are the transaction fees?

Amount (GHS) Fee Remarks
GHS 1 – GHS 50 GHS 0.75 Flat Fee
< GHS 50 – GHS 1,000 1.5% 1.5% of Value
< GHS 1,000 – GHS 5,000 GHS 15 Flat Fee

Who do I contact for more information?

The customer must use the existing MTN support channels, ie. 100 or visit the MTN Service Centre.

What do I do if something goes wrong with a transaction?

Call the call centre of your mobile money service provider for assistance. MTN customers will call 100 or visit any MTN service centre for assistance.

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