MTN Ghana Poised To Promote Cashless Economy

Money Transfer

According to the General Manager, Mobile Financial Services at MTN Mr. Eli Hini, who was speaking at the launching ceremony of MTN Mobile Money Month , held in Accra , stressed that as a growing economy there is a need to develop a structured programme to help achieve the benefits of a cashless economy.

He cited the following as the benefits of going cashless as a country: Reduction in the cost of currency printing , lower risks for individuals and banks associated with transporting currency notes- Increased service options for consumers , including efficiencies created when goods and services are purchased and bills are paid digitally.

Adding that , regulatory bodies must provide the necessary policies that will promote the use of mobile money and thereby making the cashless economy agenda a reality.

“ All of us as stakeholders have a role in ensuring that the steady growth of the industry is maintained, and a key catalyst for maintaining that growth is ensuring an enabling regulatory environment that supports the increasing synergies between Banking and Mobile Financial Services industries”, he stated.

According to him, MTN Ghana launched the country’s first Mobile Money Service in 2009. Now the service has more than 5million active subscribers and over 46, 000 merchants nationwide.

Customers behaviour has changed and we are seeing the usage of more advanced services such as bill payments , school fees payment , payment of goods and services and several others.

“We are aware of the concerns people have about Mobile Money fraud. These issues we must address together , and that is ongoing. We must continue with education and we must all take care to protect our mobile money pin codes amongst other things”, he advised

However, he cited the following activities lined up for the month long celebration:

-Stakeholder conference -Inter tertiary institutions debate in partnership with NUGS -Consumer promotions . – Merchant /agent fora .

In addition , he said, their banks will launch their own interesting initiatives to exercise customers who transact with them through out the month.

“The celebration of Mobile Money month has been a great success for many reasons; it gives us the dedicated time to consider the benefits of the service, emphasise its relevance and explain it features.

It also provides an opportunity for us to go into more communities to engage and solicit feedback. These engagements have been useful and have helped in driving the general understanding and usage of Mobile Money in Ghana”, he explained unequivocally .

The Mobile Money Month was themed: “ Let’s go cashless with MTN Mobile Money”,
Source: News Ghana