The total amount of money circulated within MTN Mobile Money platform without being cashed out continues to increase with the consistency of sunrise and sunset. In the month of March 2019 for instance, there was a notable increase of 2.73% compared to the previous month. The transfer in amount has increased from E151, 299, 599 in February to E155, 426, 332 in March 2019.
This demonstrates that MTN Mobile Money customers can use the platform beyond just the basics of making deposits and withdrawals.
This trend is consistent with the aspirations of MTN Mobile Money which is to bring convenience and safety for all users.
“If our valued customers are able to circulate their deposits within the MTN Mobile Money platform, it is then that they enjoy first-hand, the safety and convenience that the platform brings. For instance, when money is circulated within the platform to pay for different goods and services, chances of loss of cash are almost non-existent, not unless a transfer is made to a wrong Mobile Money wallet or account. Further, because transactions on Mobile Money can be made at a time determined by a customer, it comes across as extremely convenient.” said Mandla Luphondvo during the report.
MTN Mobile Money has also witnessed a 21.6% increase in the use of the platform for retail payments. In terms of actual cash, payments to retail shops have also increased from E292, 054 in February to E355, 086 March 2019. This could be partly attributed to the fact that in the past couple of months, MTN has engaged a couple of retail outlets, some of whom now gladly accept Mobile Money as an official form of payment. Besides contributing to improving cash management, and eliminating chances of misplaced cash, MTN Mobile Money increases chances of customers buying goods and services when they don’t readily have hard cash in their pockets, but in their Mobile Money wallets. This is precisely why MTN continues to engage retail outlets to accept the use of Mobile Money to contribute to the improvement of their sales.
Also noted in the month of March, more and more customers are using Automated Teller Machines (ATMs) for withdrawals. Related to this, MTN has noted that complaints of bad customers experience at the hands of vendors has drastically decreased.
This indicates that as a result of heightened education on MTN Mobile Money, customer experience has been improved, and customers can now exercise choice on how they withdraw or use the money in their Mobile Money wallets.
ATM withdrawals have particularly proved useful to clients who need to access their money outside the normal working hours of Mobile Money agents.