Yet another financial innovation using mobile telecommunications has been introduced in Africa. This time, it’s an investment product from Uganda’s MTN Mobile Money (MTN MoMo), a mobile financial service provider.
Visa says it is collaborating with QR payment providers across the Asia-Pacific region to kick off a scheme that would enable digital wallet users in the region to make QR payments at merchants when traveling abroad.
Safaricom and Mastercard announced on Thursday that they have signed a partnership to accelerate adoption of payment acceptance and cross-border remittance services in Kenya.
MTN Uganda Mobile Money managing director and CEO Richard Yego revealed the operator is aiming to almost double its loans to UGX1 trillion (US$256,000) this year.