A/R: MoMo agents fear new 'cash-in system' could collapse their business

Mobile Money Agents in the Bosomtwe District of the Ashanti Region are kicking against a new ‘direct cash-in’ system of transaction imposed on them by their network partner, MTN Ghana. The new directive according to the Bosomtwe MoMo Agents Association will allow vendors to halt the routine cash-in process and rather assist the customer to send the money to its final destination, after loading their wallets. In a press statement, the agents indicated that the new directive will further create confusion between their members and customers. “They want us to stop the normal cash-in routine and rather load customers’ wallets. As agents we cannot cooperate with the directives of the telecom giant”, said one of the leaders who gave her name as Godslove Opoku Mensah. The group is warning that the system when rolled out will bring the mobile money business to its knees. “We use to earn about 40% on cash-out but recently it has dropped to 36%, and our business is diminishing slowly. The direct cash in the initiative will create problems between customers and agents,” Opoku Mensah indicated.