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Business News of Thursday, 26 October 2017


MTN reintroduces ‘Cash Out’ feature to Mobile money users

Mobile telecom operator, MTN Ghana has announced the comeback of the ‘Cash Out’ feature which is to be launched on November 4, 2017.

The feature enables mobile money customers to select ‘allow cash out’ before an agent can initiate a transaction.

Speaking at the press briefing, Business Development Manager, MTN, Abdul-Majeed Rufai indicated that mobile money agents should not record subscribers’ numbers in the transaction sheets as they have issued new transaction booklets so as not to disclose numbers of the subscribers.

“We are bringing back that feature that will allow the customer first and foremost select allow cash out, turn it on, before an agent can issue the transaction” he said.

“Hence forth, agents should not disclose subscriber’s number on the transaction sheets. We have issued them transaction booklets not to disclose the number of the person who is loading so that once you go to an agent point, you can’t even get the number, let alone call the number” he added.

Meanwhile, MTN Ghana says sanctions given to some agents caught in mobile money fraud is the decommissioning of their stalls but so far, none has been sent to court.

MTN is also introducing an Agent Registry which is to sanitize agents’ network in the country. Other telcos will have access and contribute to the Agent Registry to prevent agents whose stalls are decommissioned from shifting to another network to operate.

Analytics, Budget & Reporting Manager, MTN, Solomon Hayford mentioned that ‘’Once an agent is blacklisted from MTN or any of the other telcos that information will be on that agent registry and will prevent that agent from coming on board on any other mobile money service providers network, once you are blacklisted you are blacklisted for the whole industry you cannot operate mobile money anywhere else in Ghana any other service provider and that initiative is been ran by the central bank’’.

He however added that there are systems being used to monitor and track the activities of fraudsters as well as locate their whereabouts within the country.