MTN Mobile Money | Launch, Payments & Transfers with MoMo App

MTN Mobile Money: with 22 million + Mobile Money subscribers in 15 African countries, this service aids transfers and payments on cell phones. Also, since its launch in Nigeria in 2019, the service has been adapted for online investments, with entertainment extras.

Other takeaways from this service include the following:

  • Fintech business solutions _ business at the speed of thought, with fine-tuned optic transmission systems wafting as much as 25.84 terabytes per second.
  • A consumer network recording 230 million subscriptions that span the Middle East and Africa.
  • Also, there is MoMo Rich Media which targets the local start-up media communities in Africa.

Currently, Twitter users, and every other MTN Mobile Money app user, can do giveaways faster with just the MoMo app.

With the MTN Mobile Money app on your mobile phone, you can perform different funding and investments in seconds. Learn more about the app in this article.

MTN Mobile Money: Launch History

Far from the popular notion, the app did not start in Nigeria; it already has a strong niche in Ghana. While a similar mobile money service has been facilitated in Kenya via Telco, it only launched in Nigeria in 2019.

The MTN Mobile Money launch event was marked by excitement and acceptance by some grassroots initiatives. This is because the app puts the petty trader in Nigeria on an even footing with an SME as per mobile payments and transfers.

Due to the financial inclusivity of the MoMo service, local users of the app can also fund an online investment using just their mobile phones.

Important activities as regards the MTN Mobile Money app launch are as follows:

  • An awareness campaign highlighting the financial levels that the app bridges
  • A media presence targeting the SMEs and start-up businesses in Nigeria

The above programs culminate in the MTN Mobile Money app’s final launch in the Hilton Abuja.

Also Read:

Grifols Plasma Loyalty Card | CSL Plasma, BofA Prepaid Card Activation

PayPal Cash Plus Account | How to Get a PayPal Credit Card

Payment & Transfer Options: What It Offers

Since its creation, the MTN Mobile Money app offers the following financial services:

Options for sending free SMS messages _ app replies with a chart of the MoMo app-supported agents close to users’ locations. 

Fund/Money Transfers for a Fee _ app requests a fee for money transfers through agents. This fee, one hundred (100) naira, is split in two. One-half of it (50 Naira) is for the sending party, while the other half is for the paying party.  

Also, users can only transfer amounts in the bracket of a hundred naira to fifty thousand naira. The maximal transfer can amount to one hundred thousand naira, as a MoMo-supported agent might specify.

The key restrictions on this service are:

It costs N100 to transfer funds through the app, making it N48 costlier than electronic transfers through mobile bank accounts.

There is a chance that the fund’s security is forfeited after thirty (30) days of its initiation, which is when the transfer was made. This prompts the receiver to redeem the funds within the specified 30-day validity period.

How It Works

There are a few prerequisites for using the MoMo payment service.

You will have to buy into the service (subscription) to do more than just fund transfers. If you wish to enjoy more features on the MoMo app, you can get them by registering with MTN Mobile Money Merchants.

These Mobile Money middlemen include agents, MTN offices, and any GTBank. How does the registration work?

You will present your MoMo-supported SIM Card or purchase it at the registration center if you do not have one. Afterward, you can fill out a requisite form and submit your registration to the MoMo facilitator. Learn more

MTN Mobile Money: How to Fund Accounts

After registering your MoMo account with the MTN-specified agents, you can fund it using the procedure in this section.

  • First, buy a Mobile Money Scratch Card from supported vendors like GTBank, MTN offices, or any MoMo agent.
  • Second, scrape off the coating on the card to access your dedicated four-digit PIN.
  • Lastly, you can start a transfer sequence, for a N100 transaction fee, by requesting the service through your cellphone.

Note that your dedicated PIN, different from your cellphone PUK, is relevant for all transactions on the Mobile Money app. To avoid adulterations or hacking, keep the PIN secure.

Things MTN Mobile Money Can Do With Their Account

The MTN mobile money wallet holders can use their mobile money account in different ways, and they can:

  • They can receive and store money
  • Send money to any MTN mobile phone user whether registered or not
  • They can also send money to mobile phone users on other local networks
  • Withdraw cash at any authorized MTN mobile money agent
  • They can also top up MTN airtime
  • Pay bills
  • Buy and pay for insurance
  • Pay employee salaries, airline tickets, school fees, and other necessary bills.

How to Register MTN Mobile Money

Registering for MTN mobile money depends on whether you are in Benin or Ghana.

Send Mobile Money in Benin

You are given two options from MTN:

  • You can go to an MTN MoMo customer corner with a valid ID like a National ID Card, driver’s license, password, and a registered MTN SIM card.
  • Make sure that you are able to open your MTN MoMo account by yourself, from your phone
  • Then type *400#
  • After that, you choose 1 which is “Continue self-registration”
  • Input your first and last name
  • then fill in your date of birth: MM/DD/YYYY.
  • Finally, select your 5-digit PINSECRET code and validate

Note that the MTN MoMo PIN code should be secret and personal, and you don’t have to discuss it with anybody.

Send Mobile Money in Ghana

You are given two options from MTN:

  • You can go to an MTN MoMo customer corner with a valid ID like a National ID Card, driver’s license, password, and a registered MTN SIM card.
  • Make sure that you are able to open your MTN MoMo account by yourself, from your phone.
  • Then you log into the MTN mobile money Official website
  • Click on register
  • After that, you enter your user name which is your phone number and preferred mobile money PIN
  • Then you enter the one-time password
  • Create your own password or keep the one that is generated for you.
  •  Then click on “Continue

Recommended Posts:

Okash Customer Care | Okash Care Number, Email | Loan Updates

My MTN App Cheat | MyMTN App Free 500 MB, Browse With Free MB

Okash Loan App | Download App, Borrow without Collateral

Online Pakistani Earning Apps | Earn Money Using These Apps

Leave a Reply