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Editor’s Pick: MTN MoMo Your One-stop Payment Point

MTN MoMo is championing financial inclusion across the spectrum as it transforms the country into a cashless economy.

In March 2009 MTN became the first telecommunication operator in Uganda to launch a mobile financial service that would revolutionize the country’s financial fabric. More than a decade later, the service has evolved into a one-stop financial transaction point that is championing financial inclusion across the spectrum as it transforms the country into a cashless economy.

From the most basic feature of sending and receiving money, to performing simple tasks such as buying airtime and internet data bundles, or paying bills, school fees, and other utilities – to now transacting across the borders as well as pay taxes to the Uganda Revenue Authority, make Kampala City Council Authority Payments and make donations and so many other payments on your phone using MTN MoMo.

According to Stephen Mutana, the General Manager Mobile Financial Services at MTN Uganda, paying for goods and services is easy, safe and convenient when you keep some money on MTN MoMo.

He added that, “the experience of using MTN MoMo has been made even better with the MyMTN app.” The MyMTN app is MTN mobile money application to ease on the use of USSD codes and is available for download for both android and iOS users.

To ease the payment for goods and services, MTN Uganda launched MoMoPay, a digital payment platform that allows customers to pay for goods and services directly from their Mobile Money accounts, free of charge without having to withdraw it first. The service was introduced to combat the pain experienced by MTN customers when making transactions.

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Caroline Nakato, an ardent user of the MoMoPay service says that the payment method has simplified her life.

“I don’t have to stress with going to the bank to withdraw cash and carrying it around for shopping or paying for certain services. All I have to do is transfer it to my MoMo account and off I go. It saves me time yet it is safe secure and always available. Even when I lost my phone, my PIN number keeps my money safe,” says Nakato.

MTN MoMoPay is available in several supermarkets, shops, pharmacies, hospitals and all MTN Service Centers in towns across the country, meaning that even when one travels upcountry, they can still access the service.

How to use the service;

  • When the customer is done purchasing/shopping for their products or ready to pay for a service they had been offered, s/he will ask the merchant for their merchant number.
  • A six-figured digits is provided to the customer, then they dial *165*3# press the ok/yes key. From the dialog box that pops up will ask you to insert in the merchants number.
  • After inserting the number, you will then be asked to inset in the price that you owe, which you will have to confirm with MTN mobile money number to finalize the payment.

That’s all it takes.

Some of the customers paying for their products using MTN MomoPay at the Ntinda Shopping Centre in Ntinda after the re-launch of the service on Thursday 16th, August 2018.

Online Shopping with MTN MoMo

Another exciting innovation for people who love online shopping is perhaps, the MTN MoMocard. MTN in partnership with Mastercard and UBA offers customers the ability to make online payments using a virtual card known as the MTN MoMocard. The payments are made from the customer’s MTN MoMo account.

The virtual card ensure MTN’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio. Additionally, the partnership results in a wide range of cutting-edge digital payment solutions being introduced in Uganda.

Like a debit card that is linked to a bank account, the MTN MoMocard is linked to a customer’s MTN MoMo account but is accessible on any type of mobile phone. All a customer has to do is dial 165*70# and follow the instructions.

A step to step to buying a MomoCard, view your MomCard details, and Canceling the card. Photo by : OLUPOT NATHAN ERNEST | PC Tech Magazine

The MTN MoMocard can be used on any merchant platform that accepts Mastercard – locally and globally. Consumers that travel frequently for business or leisure, or those that shop online will enjoy the convenience of the easy-to-use solution.

To acquire one you can use any phone, whether a feature or smartphone;

  1. Dial *165*70# >> select option 1 which is to create an MTN MoMocard and you will be charged a non-refundable UGX1,000.
  2. Customer is prompted to enter their mobile money pin to confirm payment.
  3. A 16-digit virtual card number together with the CVV number is generated and sent to your phone via an SMS.

You can create one virtual card at a time which has a maximum value of UGX3 million. The card will last for two weeks, after that time, it expires. You can then go through the similar process to acquire a new one in case you need to have some shopping done.

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