Rwanda: Taxi Moto Passengers to Pay Fares Using Mobile Money Service in New MTN, Yego Moto Deal

1 December 2017

Money Transfer

Taxi moto customers will now be able to pay their transport fares using mobile money service following the signing of a partnership deal between MTN Rwanda and Yego Moto Company. The new deal means that MTN Mobile Money subscribers will only need to deposit money on their mobile wallets and use the telecom firm's tap&pay platform to settle their taxi moto fares.

The development is a big boost to efforts aimed at deepening uptake of digital payment solutions. Launched last year, the MTN tap&pay technology allows mobile money subscribers to make transactions using their mobile phones.

According to Norman Munyampundu, the MTN Rwanda chief business officer, this latest partnership is in line with the company's strategy to support efforts toward achieving a cashless economy.

Aranvir Singh, the chief executive and managing director Yego Moto, said: "The idea is to make it more convenient for passengers to pay their bills using mobile money platform tap&go and also support drive to cashless economy."

The partnership comes at a time when the government is encouraging Rwandans to embrace electronic payment platforms and facilities for their efficiency and safety. Research shows that digital financial services spur economic growth by widening the tax base and creating more jobs.

Source: New Times