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Press Box

MTN confirms Mobile Money product testing countrywide

Release date:11/25/2008
Kampala, Uganda: MTN has confirmed that it is testing its Mobile Money transfer service with agents and hundreds of customers already on the pilot service countrywide ahead of its imminent commercial launch.
Speaking during a briefing to clarify reports on the service, MTN’s Chief Commercial Officer Erik van Veen emphasized that the product will only be introduced into the market after a comprehensive test period to guarantee its security, reliability and accessibility to as many Ugandans as possible.
“MTN recognizes that as we innovate, we have a responsibility to deliver products that are not only reliable and secure, but also available to the majority of people who are our customers” said van Veen referring to the fact that seven out of every ten calls are made on the MTN network and that the service must be designed to guard against the challenges and sensitivities that are associated with financial transaction services.
Van Veen informed the briefing that the project started in April this year and has undergone a rigorous planning and development process which included extensive customer research, market planning, vendor selection, software development and careful hardware implementation to be able to provide a secure and reliable service to MTN customers. He confirmed too that conditional regulatory approval was sought and received from Bank of Uganda.
MTN Mobile Money has been in a pilot phase since October 16, 2008 with a number of agents and customers involved. “Our test customers have experienced the full service capability which means they have gone through the process of signing up, getting SIM replacements and using the service for transactions”
“Our initial service is simple and user friendly and customers will find it very easy to interact with. However this will progressively be upgraded to include other functions as the market demands.”              
It is expected that the pioneering service will revolutionize money transfer especially in rural areas where formal money services are not easily available. MTN Mobile Money will be cheaper than the traditional money transfer services currently on the market and far more accessible with all MTN dealers acting as agents as well as the hundreds of agents the company is registering nationwide.
About the MTN GROUP
Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: "MTN". As at 30 September 2009, MTN recorded 108,4 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. The MTN Group is a global sponsor of the 2010 FIFA World Cup South Africa™ and has exclusive mobile content rights for Africa and the Middle East. Please visit www.mtn.com andwww.mtnfootball.com