What is MTN Mobile Money?
MTN Mobile Money is a service from the MTN Group to allow customers on all cell phone networks to do banking. There are no monthly or annual service fees and no minimum account balance required to sustain the account. Customers can deposit and receive money from any participating Pick n Pay or Boxer stores without the need to open a bank account or pay monthly admin fees. Since the launch of Mobile Money in South Africa in November 2012, more than 2 million customers have registered on the platform, with over R2.5 billion monetary transactions processed. In March, the Mobile Money offering was enhanced even further by receiving regulatory approval to become a fully accessible bank account on a mobile device, with increased daily limits and functionality. To qualify for a MTN Mobile Money account, you need a valid ID number, active cellphone number and must be 16 years or older.
What Can I do with MTN Mobile Money ?
– Send money instantly to any active South African cellphone number.
– Deposit and withdraw cash at till points at participating Pick n Pay and Boxer stores.
– Pay for goods and services, at till points, at participating Pick n Pay and Boxer stores.
– Buy prepaid airtime and prepaid electricity.
– Buy prepaid Data and SMS bundles.
– Receive payments into your Mobile Money account through Electronic Funds Transfer (EFT).
– Make payments from your Mobile Money account through Electronic Funds Transfer (EFT).
– Pay for goods and services at most retail stores with a Mobile Money VISA Card
– Withdraw cash at any ATM
See Mtn.co.za for more information.
Mobile Money Visa Card
The MTN Mobile Money Visa Card is a service launched in June 2014, and can be acquired from any participating Pick n Pay or Boxer store for a one-time fee of R29. As stated, a background check will be done upon purchase of the MTN Mobile Money Visa Card. The Visa card can be activated within 72 hours after purchase. With it, customers and non-customers of MTN can pay for goods and services at most retail stores, and withdraw cash from any ATM. There are no monthly or annual card fees, and customers shopping at Pick n Pay Stores will earn double Smart Shopper points when they shop.
Lost or Stolen Card
1. If your Mobile Money Card is lost or stolen, dial *120*668# to access the Mobile Money menu and select the “Cancel Card” option.
2. You can also contact the Mobile Money Customer Care Centre on 083 123 0145 to cancel your Card.
Forgotten Card PIN
1. If you have forgotten your Mobile Money VISA Card PIN you can contact the Mobile Money Customer Care Centre on 083 123 0145 for assistance. Call is free for MTN customers.
Do More with Mobile Money
– Customers who are part of the MTN network will receive a 5% cash reward when they purchase airtime.
– Enjoy free unlimited Card swipes and no monthly or annual Card service fees when you use your Mobile Money VISA Card for every day purchases at any point of sale machine.
– If you’re an MTN customer, get family and friends to send you money with a “Please send me money” SMS. Dial *141*3# and follow the prompts.
– Conveniently make payments to any bank account in SA using the Mobile Money mobile banking site at MoMoney.co.za
MTN Airtime Reseller
If you are an existing MTN subscriber, you can start selling airtime for any cellphone network and you will a 5% cash reward in your Mobile Money account every time someone buys airtime from you.
Dougie Henderson, Head of Emerging Products & Innovation for Visa in Africa, says: “Visa continues to drive innovation in Africa with offerings that help meet our clients’ needs by making financial services more accessible to everyone.”More people across Africa are switching from cash to card transactions, which provide greater safety, convenience and increasingly, more personal finance capabilities.”We expect this trend to continue as new technologies are being rapidly adopted across the continent that make it easier for more people to be included in the financial systems.”