MTN introducers new technology to eliminate MoMo fraud

The ultimate winner, right, receiving his prize

MTN Ghana Limited has introduced a new technology into the Mobile Money (Momo) operating space that will speed up transaction and eliminate fraudulent activities.

The new technology, comes with a QR Code system where subscribers are to scan the QR code of the merchant they are transacting the business with, after which they will only need to enter the amount they wish to withdraw and enter their pin number or password.

General Manager, Mobile Financial Services of MTN, Eli Hini, said: “Phone users will scan the QR code, which gives you all the relevant information about the merchant you are dealing with, so you just go forward to enter the amount and your pin.

People without smartphones will get the merchant ID in a form of a code, which when they enter on their phone, will grant them access to merchant information and then they continue with the transaction by entering the amount followed by the pin”.

He further indicated that the process is very fast and is going to save customers’ time and eliminate fraud, as it is a physical process and needs no third parties as well as less interference by the merchant/agent.

Mr. Hini disclosed this information, while speaking at the MoMo Awards presentation, an event that was organised to honour customers who have won various prizes from MTN during the company’s October’s MoMo month promotion.

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Twenty lucky winners were rewarded various prizes at the event: three of the 20 lucky winners received GH¢500 cash; ten people received GH¢1,000, and three others received GH¢2,000 each.

Other prizes given to deserving winners were: 49 inches Samsung HD TV–received by two people, and one Samsung Galaxy S9+.  The ultimate winner walked away with an IPhone X.

The promo, which is transaction driven and points based, started on August 1st and is expected to run for three months. A total of 250 customers will be rewarded with various prizes each month of the promotion.

The significance of the MoMo rewards, was explained by Mr Hini, who said: “Rewards remain a good way to encourage loyalty and drive participation. This is one of the reasons why MTN comes up with exciting promos during the MoMo month to drive the broader national agenda of cashlite economy”

The MoMo Promo, has been in existence for the past seven years but was one-month celebration but this year, it has increased to three months and over the next two months, more than 500 MTN Ghana customers will be rewarded for participating in the MoMo month promotion.

The public as well as the merchants are to undergo training and education on how to use the new technology that will improve transaction.

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