Mobile Money merchant service was developed to let customers pay for services and goods with the help of the account at any merchant place accepting Mobile Money. The brand belongs to the most prominent African brands established by MTN Group, which is a multinational telecom group founded in 1994. The company operates in more than 20 countries in the Middle East and Africa. The company sets a mission to bring a new digital world to 240 million customers from the regions mentioned above.

In 2020, MTN was acknowledged as the best mobile network in South Africa. The expansion and enhancement of the world-class network attracted more customers and it helped to reduce the prices. In 2021, the company retained its leading position and was appointed a mobile communication provider to SA’s Government. MTN concluded partnerships with more than 10 partner banks located mainly in Africa.

The secure electronic service enables MTN Mobile Money wallet that is used for storage, payments and money transactions. All operations can be performed with a mobile device. The product stands out thanks to the simplicity of functionality, affordability, speed, and convenience.

The team of MTN Mobile Money developed the app known as MoMoPay enabling QR code payments on the MTN mobile money system. All merchants get an ID called mID that is a unique identifier of a merchant. It is also an essential element of the payment process.

The system charges from 2.5% to 5% per transaction depending on the amount.

Benefits of using MTN Mobile Money

MTN developed a value proposition with regard to the complications that usually encounter merchants trying to deploy physical points of sale terminals. The channel for merchant payment acceptance enables the creation of more merchant identifiers that help to economize expenditures thus improving merchant value proposition and making customer payment experience smoother.

The merchant ID is provided at the moment of registration as well as a quick response code (QR code) that should also contain MSISDN, the name of the merchant, and mID embedded in the graphic image. Using them, the merchant can accept payments from customers using a mobile money payment system.  The introduction of QR codes is aimed at the improvement of the overall payment experience.

The company continues to develop and expand the network via collaboration with other participants of the market. The partnerships of MTN Mobile Money with different companies contribute to the convenience of the service. For instance, partnering with Kazang, the company allows mobile customers to cash out and cash in at the partners’ agent points. The number of agents has increased after the agreement between the parties was concluded. Consequently, the number of transactions via the system has grown. More merchants started accepting MoMo as a form of payment for services and goods.

The outlets with an ABSA POS machine can also accept payments from MTN mobile money registered customers. The service can be fulfilled by an operator or a cashier by means of inputting the customer’s MoMo number and amount on the POS device. After this, customers get prompts on the phone for the approval of a transaction that becomes valid after they enter the MM PIN. Customers find the system rather convenient.

How to connect to the system

Those who want to become MoMo merchants should have PACRA certification, which is an executive registration agency of the Zambian Ministry of Commerce, Trade and Industry.

The candidates should also be VAT/TPIN certified, and have a trading license. It is also necessary to have a service application letter and certified IDs of principals. It is also important to present stamped bank statements and articles of association for the applicants.



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