MTN Group is searching for a new mobile money service in South Africa after terminating a relationship with banking technology company Tyme, Bloomberg reported.

The operator launched its South African mobile payment service using Tyme technology in 2012, but dropped the service in September 2016 due to a “lack of commercial viability”. While MTN retained ties with Tyme since closing the service, this week it chose to end the collaboration.

MTN held onto a banking licence through a separate partnership with the South African Bank of Athens, and is now mulling the launch of a mobile financial service with a new partner.

Maxwell Nonge, MTN’s chief digital officer, told Bloomberg the operator was “committed to remain a significant player in financial services and continues to explore opportunities in this space.”

Difficult market
Mobile money services failed to gain the same traction in South Africa as in other markets in sub-Saharan Africa. In addition to MTN withdrawing its payment service, in May 2016 Vodacom discontinued its M-Pesa service in the country.

At the time, Vodacom CEO Shameel Joosub, cited “high levels of financial inclusion in South Africa” meaning “there is little prospect of the M-Pesa product [reaching a critical mass of users] in its current format in the mid-term.”