Mobile Money Merchants and Phone Sellers Association of Ghana (MMOMAG) have hinted that they will increase the price of all recharge cards by 10% from Wednesday.

The association sent an announcement to Adom FM inviting their members for a meeting Wednesday to discuss the implementation of the increment.

When Adom News called the president of the association, Kingsley Freelove Amoh, he confirmed that they indeed intend to increase prices because the telcos have reduced their commissions on each card from five per cent to two per cent despite the difficult economic situation.

"Utility tariffs have gone up, transport fairs are up and prices of goods and services are up and this is the time the telcos have rather chosen to reduce our commissions so we will add 10% to the prices of each card to that we can survive," he explained.

Adom News reached out to MTN, and a letter signed by General Manager of Regional Sales, Abubakari Mohammed,  said  "MTN has not increased prices of its recharge cards or Mobile Money Services (so) customers should reject any increase in prices and insist on paying the face value price of the cards."

Abubakar Mohammed also urged customers to report any retailer or Mobile Money Merchant who attempts to increase the price of recharge cards or increase mobile money fees to any MTN office or call the helpline line 100 so that the necessary action may be taken.

"MTN would like to take this opportunity to encourage retailers to switch to the sale of electronic vouchers /Credit transfer which has higher margins of profit," he added.

Meanwhile, an official of Tigo also said the company has not increased the prices of their recharge cards so customers should resist any price increases by vendors.