Absa Bank Uganda has entered into a partnership with MTN Mobile Money Uganda Limited that will see the former introduce the mobile money payment function on the bank’s Point of Sale (POS) machines.
The Chief Executive Officer of MTN Uganda, Wim Vanhelleputte, said the service makes it easier for their customers to make payments using MTN MoMoPay on their phones.
“We are pleased to partner with Absa to offer this service which makes it easier for our customers to make payments using MTN MoMoPay on their phones. Cashless transactions are the future given the trends and increased mobile phone coverage in the country. Factors such as a youthful tech-savvy population coupled with MTN Mobile Money’s digitalization agenda will continue to propel the adoption of digital services like MTN MoMo and MTN MoMoPay,” Vanhelleputte added.
The service is open to all MTN Uganda mobile money account holders, who can now make payments on any Absa POS machine, regardless of whether they hold an account with the bank.
Absa Managing Director Mumba Kalifungwa welcomed the partnership, saying it will provide convenience to customers as well as support financial inclusion
“Wherever there is an Absa POS machine in a supermarket, shops or pharmacy among others, you can easily pay for goods and services directly using MTN MoMoPay at no extra cost. This service will help drive cashless transactions and the benefits that come with it,” he said.
“This is yet another digital innovation from Absa as we accelerate our ambition to become a digitally led bank. It not only offers convenience but also has a direct benefit to businesses that do not need to hold onto large amounts of cash waiting to be banked at the end of the day, and in turn mitigating security risks,” Mr. Kalifungwa added.