You have probably seen mini boards lying around bars, grocery shops and various locations embroidered with the ‘MoMoPay’ in yellow colors and you have automatically dubbed it ‘one of MTN services’ and not gone ahead to pay attention. Well you should pay attention!
MoMoPay is MTN newest development towards a cashless economy as the service allows you pay for services at absolutely zero charges using Mobile Money. This service enables merchants receive payment for goods and services using MTN Mobile Money. It is accessible using *165*3# for both customers and merchants.
Customers use the service for free and while at it, the service reduces risk of carrying cash, No issues of small change amounts and Customers and merchants can deposit and withdraw funds from their bank accounts.
For Merchants, the service comes off an additional advantage for them and gives them additional revenue for Merchants who can earn commission by selling airtime or making payments for customers. With MoMoPay, merchants can sell airtime and earn commission, pay suppliers, pay salaries as well as transfer money to the bank.
To start using MoMoPay, merchants need to fill out a MoMoPay application form and to provide us with some business information, visit the nearest MTN Service Centre, or email email@example.com or call 122. MoMoPay is Free for customers but Formal merchants are charged 2% of the payment received and Informal merchants are charged 1% of the payment received.