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Business News of Friday, 27 April 2018

Source: citinewsroom.com

MTN introduces self service kiosks for mobile money

Customers of MTN’s mobile money services should in the coming months be able to carry out their transactions at the new self service kiosks to be introduced by the company.

The new model means that customers will not necessarily have to visit designated vending points to transact money transfer business.

It is however unclear how this will affect the number of merchants in operation.

Information available to Citi Business News indicates that the self service kiosk comes on the back of the upsurge in mobile money services in the country.

It also is among others to reduce the pressure on merchants in some instances as well as allow customers transact transfer business even at odd hours.

Aside the mobile money services, the self service kiosk will allow customers to withdraw money from an Ecobank or Stanbic account without an ATM card.

This is because the system allows a customer to withdraw a token by accessing the account via his or her mobile money pin.

In addition, MTN customers could buy or change MTN SIM cards.

Even though there have been concerns on the potential impact on wiping out the number of merchants and designated vending points, sources say that may least be the case for introducing the new system.

In 2017, the total active agents reached 151,745 with total volume of transactions reaching 981, 564, 563.

Meanwhile the total value of transactions amounted to GH¢155,844,840,000.

For now, it is unclear when MTN will roll out the program as it is now testing the system.

But indications are that the system is likely to be rolled out in the next few months.