Business News of Friday, 3 November 2017

Source: classfmonline.com

MTN reintroduces ‘Allow Cash-Out’

MTN Ghana has announced the reintroduction of the ‘Allow Cash-Out’ feature on its Mobile Money Platform to enhance customer security for withdrawal transactions.

Starting November 4, 2017 customers will see the “Allow Cash-Out” feature on their Mobile Money Menu and this will enable only the customer to initiate and authorise cash out before an agent can process the transaction.

In addition to the “Allow Cash-Out” feature, MTN has put in place another measure where agents will no longer have to write down customer numbers in their transaction book before any transaction is made. Agents have now been issued with new transaction booklets in order not to disclose customer numbers.

Commenting on the service, the General Manager for Mobile Financial Services, Mr Eli Hini, said there is the need to reintroduce the “Allow Cash-Out” feature because this will enhance customer security and help eliminate Mobile Money Fraud. Apart from the customer’s authorisation, nobody can initiate cash withdrawals on behalf of the customer.

“In the past, the ‘Allow Cash-Out’ feature was part of the Mobile Money menu, however, in responding to customer feedback regarding the process, the service was taken out. To enhance customer security however, we have decided to reintroduce the feature,” he added.

While putting in measures to curb Mobile Money fraud, MTN would like to remind customers to support in the fraud campaign by adhering to the following:

1. Do not disclose your PIN. It is your secret;
2. Do not entertain calls or messages concerning your mobile money account;
3. Do not give out your phones for mobile money transactions to be performed on your behalf.

MTN Ghana launched the Mobile Money Service in 2009 to enable Ghanaians access basic financial services, make and receive payments, pay bills and buy airtime among others, using their mobile phones. The service has evolved and currently, MTN has over 8 million active users with over 86,000 agent points across the country. Additionally, MTN Mobile Money is ISO/IEC 27001:2013 certified which makes the service safe, secure and reliable.