Guru8 has received a copy of a letter from MTN Uganda Limited (MTN) addressed to the Director of the National Payments Systems Development Unit where the telecommunication giant has introduced its own measures to fight the spread of the pandemic COVID – 19.
In the letter, dated 18th March 2020, the Win Vanhelleputte, the Chief Executive Officer of MTN gives background to the measures and reveals that a discussion was had between the company, the Central Bank, and other banks in Uganda where they discussed the different ways to minimize the likelihood of transmitting the virus through the handling of physical cash.
The company has introduced a couple of measures that will in effect promote the usage of digital money which will be implemented jointly with the commercial banks.
MTN has indicated that there will be “no charge for peer to peer (p2p) on net transactions below Uganda Shillings thirty thousand (30,000)”, reads the first measure. The other measures levying no charge for the wallet to bank (w2b) or bank to wallet (b2w) where the clients exchange money between the bank and the bank customer. However, this measure will be dependent on the policies of the individual banks. The third measure is that there will be no charge for all momo pay transaction for customers an merchants.
These measures will be effective starting the 20th March 2020. According to the letter however, MTN references the 20th to be Thursday, which leaves the customers wondering whether the day inferred is actually Friday (20th) or Thursday.
But what is certain is that by Friday these new pro digital measures will be in force.