MTN partners with MasterCard to diversify mobile money services

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After having its license renewed for another 10 years, MTN Uganda has gone on to partner with United Bank of Africa (UBA) and global payment and technology company MasterCard to enable quicker, safer and convenient online payments using Mobile Money.

The partnership will see MTN MoMo customers use a virtual card to shop or make payments not only in Uganda but also around the globe in outlets that accept MasterCard payments. The virtual card, conveniently named the MTN MoMoCard, will ensure access to products and services that were before a preserve for MasterCard holders.

Speaking at the launch, MTN Uganda CEO Wim Vanhelleputte restated the company’s promise to connect more Ugandans to new forms of e-commerce.

“MTN MoMo is helping to connect more Ugandans to new forms of commerce. Our affordable mobile financial services are positively impacting communities and lifestyles in Uganda,” he said. “This is evidenced by the phenomenal growth in both the number of customers and volume of transactions over the years,” he added.

On her part, Ngozi Megwa, Vice President Market Development, Sub-Saharan Africa, MasterCard emphasized that the virtual card also supports growth of e-commerce and businesses.

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“Besides the ability to connect more consumers to a solution that enables them to pay without cash, the virtual card also supports the growth of e-commerce in Africa and supports businesses who want to appeal to a wider audience,” she said. “Digital payment is shaping commerce, the backbone of any economy. We are excited about the MTN partnership and its ability to connect us with an audience hungry for innovation,” she concluded.

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

“UBA is excited to be the bank partner with MasterCard and MTN on this milestone project that not only enhances convenience for mobile money customers but also the utility of the service. The bank recognizes the role of technology in enhancing financial services delivery and welcomes future similar partnerships,” said Johnson Agoreyo, the UBA Managing Director/Chief Executive Officer.

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