MTN MoMo, UBA and Master partnership sets up mobile payments battle

The event

MTN Uganda in partnership with Mastercard and United Bank for Africa (UBA) have announced a new service that will enable quicker, safer and more convenient online payments globally.

Analysis

The virtual card ‘MTN MoMocard’ will 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. Like a debit card that is attached 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.

The MTN MoMocard is powered by United Bank for Africa, which facilitates the payment transactions online, both locally and internationally.

September 20th, 2018 | by

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