MTN Uganda partnered with Mastercard and United Bank for Africa (UBA) to expand its mobile money services with the addition of a payment card linked to subscribers’ existing accounts.
The MTN MoMocard is pitched as offering faster and safer online payments globally through the “vast network” of outlets accepting Mastercard payments. In a statement, the companies explained the card aims to deliver a similar portfolio of services to credit or debit cards, and the partners will collaborate to launch a range of “cutting-edge digital payment solutions” in Uganda.
Wim Vanhelleputte, CEO of MTN Uganda, said the card builds on the operator’s existing range of mobile financial services which, he said, “are positively impacting communities and lifestyles” in the country. The card is linked to a subscriber’s existing MTN Uganda mobile money account, but can be accessed on any mobile phone.
UBA provides the payment handling aspect. Johnson Agoreyo, MD and CEO of UBA Uganda, described the offering as a “milestone project that not only enhances convenience for mobile money customers, but also the utility of the service”.
Ngozi Megwa, VP of market development for Sub-Saharan at Mastercard, noted the benefits go beyond simply offering a cashless payment solution: the virtual card “also supports the growth of e-commerce in Africa” and opens the door to a “wider audience” for businesses seeking growth.Subscribe to our daily newsletter Back