MTN Mobile Money Uganda Ltd has announced a MoMoPay Merchant milestone with the number of businesses on the service crossing the 200,000 mark.
Launched in 2018, MoMo Pay Merchant enables businesses to receive payments from customers and businesses for goods and services using MTN Mobile Money. The service seeks to help Uganda achieve a cashless economy.
“Mobile payments have become popular as an alternative to cash and this is projected to continue going forward owed to the benefits that come with it such safety, instant, and convenient. More and more businesses now prefer to be paid for their products and services using MTN Mobile Money,” said Richard Yego, Managing Director at MTN Mobile Money Uganda Ltd.
“We are committed to adding more features on the platform that will further boost our business customers in line with our vision of providing leading digital solutions to support Africa’s progress.”
Mobile payments have grown tremendously over the past years in the country as businesses embraced cashless payments and e-commerce in response to the coronavirus pandemic.
Some of the businesses that have embraced MoMoPay Merchant include supermarkets, pharmacies, restaurants, hardware shops, fuel stations and salons among others.
With MoMoPay, merchants can also sell airtime and earn a commission, pay suppliers, pay salaries as well as transfer money to the bank.