MTN Rwanda Mobile Money transfers hit $138m

MTN Rwanda has registered an increase in the volume of transactions through its mobile money platform hitting $138 million since its launch, the operator said in a press statement.

MTN Rwanda has registered an increase in the volume of transactions through its mobile money platform hitting $138 million since its launch, the operator said in a press statement.

The transactions increased from $116.9 million in June this year. The platform has been one of the fastest growing payment systems in the country driven by its simple and user friendly model.

MTN Rwanda’s Chief Executive Officer, Khaled Mikkawi said through more innovations and creating partnerships with other players, this has helped the mobile money’s footprint beyond the regular agent outlets.

“Through more innovative products, we managed to deploy different channels as a way of promoting customer satisfaction,” Mikkawi said.

He also said the operator is targeting to have more than half of its subscriber base to actively use the mobile money platform, particularly in geographically isolated areas.

Through MTN Rwanda’s mobile money transfer, it is possible for senders from outside Rwanda to register online, via www.mtnmmo.com  and send money from their debit cards or make bank transfers to the mobile money platform in Rwanda.

MTN Rwanda introduced the service two years ago and the service has since registered more than 600 000 users –equivalent of 20 percent of MTN Rwanda’s mobile subscriber base.

 MTN Rwanda is the leading telecom operator in the country with 3,229,672 subscribers out of a total 5,155,697 users.

According to a recent report by GSMA on mobile money adoption, Rwanda was ranked among the eight fast-growing mobile money economies globally.

 

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