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MTN Group partners Flutterwave for mobile money service

MTN Group has announced a mobile money partnership with Africa’s leading payments technology company, Flutterwave. This partnership, the company said, will allow businesses integrating Flutterwave in Cameroon, Côte d’Ivoire, Rwanda, Uganda and Zambia to receive payments via MTN Mobile Money (MoMo).

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. At the end of June, MTN MoMo had 48.9 million active users and 581,514 merchants. MoMo enables businesses to accept and make payments within the mobile money ecosystem. This new partnership will enable Flutterwave to offer MTN Mobile Money as a payment method to its business customers. In recent years, Africa has witnessed an explosion in mobile penetration as smartphone adoption has risen rapidly. According to the GSMA, this year Africa will hit the half a billion mark of unique mobile subscribers and the continent will reach 50 per cent subscriber penetration by 2025.

 

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