The mobile telecommunication giant, MTN, has announced a mobile money partnership with Africa’s leading payments technology company, Flutterwave.
In a statement over the weekend, MTN said the partnership will allow businesses integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia to receive payments via MTN Mobile Money (MoMo).
It would be recalled that MTN MoMo is a fintech platform providing consumers and businesses with an electronic wallet, enabling electronic transfers and payments as well as access to digital and financial services.
MTN therefore said at the end of June 2021, MTN MoMo had 48.9 million active users and 581,514 merchants adding that MoMo enables businesses to accept and make payments within the mobile money ecosystem.
Meanwhile this new partnership will enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers.
However Commenting on the partnership, Serigne Dioum, MTN Group Chief Digital and Fintech Officer said in the company’s quest to progress and become the largest fintech platform in Africa, it will empower millions of businesses to embrace e-commerce in the markets to accept digital payments from MoMo consumers.
Aside MTN Flutterwave also had her comments on the partnership, Olugbenga “GB” Agboola, Founder and CEO of Flutterwave told the media,
“Africa has one of the highest growth rates for mobile money adoption and e-commerce in the world.
Furthermore, it added that It makes sense that we help provide a seamless payment method to support and ensure African businesses reap the full benefits of the e-commerce boom in the region. Our goal has always been to grow a new wave of prosperity in Africa by creating more avenues for businesses in Africa to accept payments. With this partnership, we can achieve this while creating endless possibilities for our customers.