Telecommunication giant, MTN Ghana has urged for more acceptance of the cashless mode of transactions so the country can reap the numerous benefits associated with digitized payments.
Speaking at the launch of the 2018 Mobile Money Month held at Kasoa Market, General Manager for Mobile Financial Services at MTN, Mr Eli Hini said there was a need to take a second look at the mode of payments in Ghana.
According to him, while transaction varies from person to person and institution to institution, digitized payments will go a long way to benefit all especially the economy. He indicated that “In monitoring global trends, research has shown that globally the number of adults who have accounts through either a financial institution or mobile money increased from 62 per cent to 69 per cent between 2014 and 2017.
In sub-Saharan Africa, it increased from 54 per cent to 63 per cent within the same period”. Detailing how the service has improved over the years, Mr Hini said “in Ghana today, mobile money, MOMO as it is popularly known, has become a household name and it’s accepted by almost all persons, from traders to SMEs to corporate organizations.
The recent progress has been driven generally by digital payments, a new generation of financial services accessed through mobile phones and the internet”.
“I am therefore excited that Government has taken steps to make all of its payments electronically according to Vice President Dr Bawumia. For us as MTN, this is welcoming news because we have positioned ourselves well in the mobile financial services sector and invested in technology that will make all of these possible.
With our over 9 million active subscriber’s, 100,000 agents, over 50,000 merchants across the country and 17 partner banks we are well positioned to lead to the digital agenda for all forms of payments in Ghana”, he added.
Listing various packages and offers that MTN has made available to make cashless transaction easy, safe and secure for all customers, the General Manager said the mobile money month dubbed “Digitizing Payments in Ghana – The Role of Mobile Money”, will also be used as an opportunity to educate the public and give away freebies.
“Following the issuance of the E-Money Issuers Guidelines, the Bank of Ghana approved the payment of interest to Mobile Money subscribers in September 2016, MTN has since made quarterly interest payments to all active MoMo subscribers. A total of GHS 98.9 million has been paid to customers as at the end of July 2018.
We will also be engaging the Mobile Money agents, merchants and our partners in activities meant to intensify the education and awareness on digital payments.”
The MTN Mobile Money Month which was introduced in 2012 is celebrated in August each year to deepen awareness among Ghanaians about the benefits of the MTN Mobile Money service.