With MTN MobileMoney MTN subscribers are able to send money, buy airtime and pay bills using their cellphone. Users can register for MTN MobileMoney as long as they are MTN subscribers. Those who do not have MTN SIM cards or even a phone can still receive money from MTN MobileMoney users and send money through a network of agents in their country.
MTN has been piloting MMT services through MTN Uganda and at the group's West and Central Africa (WECA) region operations (Cameroon, Ghana, Cote d'Ivoire and Nigeria) since October 2008. Five additional pilots were recently launched in Benin, Congo Brazzaville, Guinea Bissau, Guinea Conakry and Liberia. The pilots are aimed at waterproofing the systems and operational processes in preparation for the commercial launch.
In each market, MTN has partnered with local banks to ensure that its MMT services are fully compliant with financial services regulations. Discussions are currently on-going with relevant authorities in various countries to ensure that all regulatory requirements are met.
