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MTN Mobile Money rewards customers

BY: Enoch Darfah Frimpong

MTN Ghana, the leading telecommunications company in Ghana is rewarding its Mobile Money customers for using the service to send money to their friends, families and loved ones this Christmas.

The promotion, which is open from December 3, 2012 to January 6, 2013, will offer both the sender and the recipient GHC10.00 bonus airtime each on transfers of GHC 50 and above made on the MTN Mobile Money platform. 

Launching the promotion, Eli Hini, Senior Manager for Mobile Money, MTN Ghana, said MTN was committed to rewarding customers for their loyalty and commitment to the brand. 

The promotion comes at a time when the drive towards a cashless society is being highlighted for proper regulations to be passed to make the move successful as in the case of the developed world and other African countries such as Kenya.

“Our aim as an organisation is to promote a cashless economy and through this promotion we are reaching out to our customers to send their usual Christmas cash gifts to their friends and loved ones through the mobile phone”, he said.

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According him, “MTN Mobile Money enables customers to purchase MTN airtime, send or receive money locally and remittances from abroad, pay bills including MTN Post Paid, DSTV, ECG Bills and school fees using the mobile phone”.

He said “Customers can also shop online, purchase airline tickets, order and make payment for food from their favourite restaurants”. 

“MTN Mobile Money also enables customers to purchase micro insurance (Mi life Insurance) and pay for micro investment products, a feat it describes as  a demonstration of the enormous potential of electronic payment platforms in the country”, he added.

MTN Ghana launched the Mobile Money Service in 2009 to enable Ghanaians to make financial transactions on their mobile phones.

Mobile payments are defined as chain of payments that are initiated using mobile handsets and other devices, either to directly purchase or to authorise payment for goods and services.

Mobile payments has the potential to serve the unbanked’ and underserved’ segments of the society.

Globally, just 37 per cent of banks provide some form of mobile banking service.

It is expected that by the end of 2012, there will be over one billion mobile banking users, conducting 47 billion transactions annually and generating more than US$600 billion worth of financial transactions.

It has great potential to reach entirely new segments because lower costs makes it profitable to serve poorer clients.

There are also no physical outlets, a situation which makes it possible to serve more remote clients.

Large volumes make smaller values and there are no fees which makes it profitable.

There are increased service options for consumers – accessibility is 24/7 and the net effect on business and economic growth through e-commerce promotion is positive and leads to enhanced productivity.

Story by Charles Benoni Okine