Telecom giant MTN has served notice it will revoke the licenses or access of merchants who overcharge their clients through mobile money (MoMo) transactions.

According to MTN, it has received several complaints from its customers on the unfortunate issue of overcharging.

The act, MTN added, is illegal and thereby urging defaulting partners to desist from it.

Addressing participants on Friday at a public forum in Kumasi on new developments on the MTN mobile money platform, Data and Channel Manager for MTN, Northern Zone, Stephen Asare said the network is keen also on educating merchants not to overcharge clients.

“We are educating them on the need not to overcharge. If you overcharge, then you are clearly flouting a rule and if you are caught, your merchant access will be taken from you”.

He further explained that the meeting with their partners was very critical and important to MTN as a business.

“Every quarter we meet and exchange ideas with our partners who are our major mobile money partners on how to develop and improve on our “MoMo” service.

“Fortunately, this month is the mobile money month, so we decided to as part of our activities, meet the merchants and learn how we can all win in this new digital agenda, that we at MTN are driving as a business,” Asare added.

With over 6.2 million active “MoMo” users and 75,000 agents nationwide, MTN has also admonished its subscribers to be extra-vigilant about fraudsters who try to take undue advantage of the mobile money system.