MTN Expands Fintech: South African telecom giant MTN is launching payments and remittance services on its MoMo mobile app. Users can send money to over 10 African countries where MTN operates, with a 4% service fee, half of what incumbents charge. The services are provided in partnership with Clicksendnow, expanding MTN's financial offerings and competition with startups like YOCO.
💸 Affordable Banking Alternative: MTN aims to provide affordable banking alternatives, offering value-added platforms for device users. The move comes as part of MTN's commitment to make financial services more accessible.
📊 Growing Subscriber Base: MTN boasts a subscriber base of 223 million across the continent, making it a prominent player in Africa's telecom and fintech sectors.
📲 API for Developers: MTN plans to expose an application programming interface (API) in the near future, enabling third-party developers to build on its platform.
🌍 Expanding Across Africa: This initiative reinforces MTN's presence across various African countries and its efforts to provide financial inclusion solutions.
Read more on TechCabal