MTN Group reveals the reason for launching instant payment service

• MTN has launched an instant outgo service, MoMo Pay, a integer outgo level for tiny concern owners
• The institution stated that MoMo Pay was designed to beryllium flexible, scalable and adaptable, allowing merchants to judge instant payments
• Users and merchants connected the level tin judge payments via QR code, merchant ID, oregon outgo request

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the system for implicit a decade.

MTN South Africa has announced the motorboat of MoMo Pay, a integer outgo level for tiny businesses.

The institution designed the merchandise for flexibility, affordability, and scale, allowing merchants to judge instant payments done QR code, merchant ID, oregon outgo request.

MTN's MoMo Pay is designed for the informal assemblage to digitise their services. Credit: MTN Nigeria.
Source: Getty Images

Types of services connected MoMo Pay

The telco disclosed that it charges a tiny interest of 0.5% for transactions processed via MoMo Pay.

It allows merchants to merchantability services similar airtime, data, prepaid electricity, and autobus tickets, enabling them to gain committee connected each transaction.

Merchants connected MoMo Pay tin besides judge payments for DStv and different subscription services.

The institution disclosed that the caller work volition payment implicit 80% of businesses successful the informal assemblage with seamless transactions, fiscal inclusion, and low-cost fiscal tools.

MoMo Pay to digitise tiny businesses

The telecom giant’s MoMo is stepping up to conscionable the request with the motorboat of MoMo Pay, a integer outgo solution designed for informal merchants.

Kagiso Mothibi, MTN South Africa's fintech CEO, said the informal system is filled with unfulfilled entrepreneurial potential.

He disclosed that with MoMo Pay, the institution is doing much than digitising payments, but opening up a pathway to fiscal dignity and scalable opportunity.

MTN said that its dedicated merchant acquisition squad provides on-the-spot grooming and seamless onboarding for merchants connected MoMo Pay.

It disclosed that thousands of merchants person already signed up and are adopting MoMo Pay rapidly.

Regarding fee, setup, and mobile-first idiosyncratic experience, MTN said MoMo Pay is already getting the desired attraction successful towns, agrarian areas, and municipality markets.

MTN unveils MoMo Pay’s people market

Mothibi disclosed that the caller level was designed to beryllium accessible, with nary request for paperwork and analyzable onboarding processes.

The MTN authoritative said users can get a first-class and reliable work with conscionable a smartphone.

According to a study by Broadband, a tech reporting platform, MoMo Pay aims to connection services, allowing merchants to entree loans, physique savings, insure their operations, and enactment successful the ceremonial economy.

“They’re trusted touchpoints, and we privation to springiness them the tools to bash more, service more, gain more, turn more,” MTN said.

The study said that the telecom steadfast wants to digitise thousands of tiny businesses successful the adjacent 5 years.

MoMo Pay is not successful Nigeria

“We privation each informal trader successful this state to person a changeable astatine integer prosperity. “MoMo Pay is our archetypal large determination to marque that hap — due to the fact that existent inclusion starts astatine the thoroughfare level,” says Mothibi.

MoMo Pay has yet to motorboat successful countries similar Nigeria, wherever the telco operates the MoMo Payment Service Bank (PSB).

However, experts accidental if launched successful Nigeria, MoMo Pay volition boost Nigeria’s informal assemblage and amended real-time transactions.

MTN's BankTech processed implicit $500 cardinal successful 3 months successful 2025. Credit: MTN/Picture Alliance/Contributor
Source: Getty Images

MTN’s BankTech processes $592m successful 3 months

The improvement comes arsenic MTN Mobile Money Unit, BankTech, said it disbursed astir $592 million successful loans successful the archetypal 4th of 2025.

The improvement is contained successful the group’s fiscal statement, which is the highest since BankTech launched successful August 2023.

MTN’s BankTech offers APIs to fintech firms

The emergence shows the increasing request for microloans and the rising relation telcos play successful Africa’s recognition ecosystem.

The MTN Group’s integer lending limb is the company’s strategical propulsion into the BaaS sector, offering APIs to alteration fintech startups, businesses, and integer platforms to integrate fiscal services, specified arsenic lending, savings, and integer security into their ecosystem.

TechCabal reports that loans are issued to individuals and businesses via the BankTech platform.

MTN Nigeria spends N202 cardinal connected web upgrade

Legit.ng earlier reported that MTN Nigeria said it has invested astir N202.4 billion, representing 159% yearly, successful infrastructure upgrades and web enlargement to boost work transportation and capacity.

The institution disclosed this successful its unaudited financials for Q1 2025, saying its subscribers grew by 8.2% to 84.1 million, an summation of 3.2 cardinal subscribers during the reappraisal period.

The telco disclosed that its progressive information users accrued by 13.0% to 50.3 million, an further 2.6 cardinal users.

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Source: Legit.ng