- The partnership will positively contribute to this trend by increasing mobile money usage.
- It will also create endless possibilities for our customers.
MTN Group has announced a new mobile money partnership with Flutterwave. Africa’s largest mobile operator and the continent’s leading payment technology company are joining forces to allow businesses integrating Flutterwave to receive payments by MTN Mobile Money (MoMo) in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia
MTN MoMo is a Fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to different digital and financial services. The platform had 48.9 million active users and 581,514 merchants at the end of June 2021. It enables businesses to accept and make payments within the mobile money ecosystem. The new partnership will enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers.
Africa has one of the highest growth rates for mobile money adoption and e-commerce in the world.Olugbenga “GB” Agboola Founder and CEO Flutterwave
Through this partnership, MTN and Flutterwave will positively contribute to this trend by increasing mobile money usage and penetration in Africa to improve local economies and livelihoods as well as create opportunities for individuals and businesses across the continent.
According to the CEO of Flutterwave Olugbenga Agboola, It makes sense that they help provide a seamless payment method to support and ensure African businesses reap the full benefits of the e-commerce boom in the region.
Serigne Dioum the MTN Group Chief Digital and Fintech Officer said MTN will continue to empower millions of businesses to embrace e-commerce in the entire market to accept digital payments from MoMo consumers. MTN believes this partnership is an enabler to accelerating digitized payments in Africa.
The new partnership will further expand on Flutterwave’s previous collaboration with MTN, beyond Uganda and Rwanda – with the potential of deepening adoption of digital payments and e-commerce in Africa, a sector expected to reach $29 billion by 2022, according to Statista.