MobileMoney Limited is encouraging subscribers to use MoMo for all kinds of payments to reduce the use of cash in this period of COVID-19.

The call was made at the launch of the 2020 edition of the Mobile Money Month which is being celebrated under the theme, “the Relevance of MoMo in a Covid-19 world’.

The theme was selected to reiterate the agenda MTN MoMo set a few years ago to advocate for a Cash- Lite Society and the use of MoMo for all forms of financial intermediation including payments.

Speaking at the launch which was held at the MTN Head Office, the General Manager for MobileMoney Limited, Eli Hini said, “Today, under the unfortunate circumstance we find ourselves as a people, we realise that our foresight and relentless investment in MTN MoMo at a time when many shied away from the prospects is paying off.

"This is because, in this period of limited movement, MoMo comes in handy. We, therefore, encourage the use of MoMo for e-commerce activities, transfer of money to help friends and family, payments for various activities including tithes and offerings, social donations (weddings and funerals) and other forms of financial transactions.”

Mr Hini commended the Central Bank for adjusting policies as part of their Covid-19 initiatives to allow the increase in wallet and transaction limits as well as the use of validated GSM data to activate mobile money wallets.

This was collaborated with the waiver of fees for transactions up to 100 Cedis daily till the end of June and further extended by MobileMoney limited to the end of September 2020.  

He also noted that the launch of the Digital Financial Services Policy earlier in the year will among others drive the expansion of Digital Payments, support the growth of FinTechs and deepen financial inclusion in Ghana.

MTN MoMo has made significant investments on the mobile money platform to allow the payment of various goods and services by creating a good number of Merchant outlets across the country that accept payments through merchant ID numbers and QR codes.

Aside the advocacy to drive payments through MoMo, the MoMo month celebration will be used to reward a total of 4,000 MoMo subscribers in the months of August and September.

High performing Agents and Merchants will also be rewarded. Other activities planned for the month include a stakeholder forum which will be held to discuss the growth of FinTechs in Ghana, a digital fair as well as digital quiz competition on various social media platforms to create more excitement during the month.

MTN MoMo took the opportunity to ask customers to remain vigilant and avoid activities that will make them compromise their MoMo PIN.

MTN MoMo Month was instituted in 2012 and has for the past eight years been instrumental in driving awareness, influencing policy and deepening the use of MoMo services.

Over the years, MoMo Month celebration has contributed significantly to driving adoption and acceptance of e-money nationwide.