MTN and the South African Bank of Athens in partnership with Pick and Pay and Boxer Stores have introduced Mobile Money, a service allowing customers to make payments from their mobile phones.
Among an array of value-added services, Mobile Money allows customers to make payments from their mobile phones and transfer funds to other users with their Mobile Money account. Customers can also buy prepaid electricity vouchers and prepaid airtime directly from their mobile phones as well as pay for groceries and withdraw cash at any Pick n Pay and Boxer stores. Mobile Money is operated by TYME, a distribution channel of The South African Bank of Athens.
‚”MTN is focused on ensuring that telecommunications services continue to improve and simplify the lives of mobile customers,‚” says Serame Taukobong, Chief Marketing Officer at MTN SA. ‚”Mobile Money is yet another innovation that is aimed at using a full range of ICT solutions to ensure that customers enjoy convenient and affordable financial services.‚”
‚”MTN is proud to have partnered with retail outlets such as Pick n Pay and Boxer stores, who have a mass reach throughout the country to ensure that this service is accessible to customers, in line with our distribution strategy,‚” says Brian Gouldie, Chief Consumer Sales Officer at MTN South Africa.
‚”The South African Bank of Athens is excited to be delivering this banking product to the market in partnership with MTN, TYME Pick and Pay and Boxer stores,‚” says Darryl Adriaanzen, Executive Director at The South African Bank of Athens. ‚”We believe that this product will be a compelling alternative in the South African banking market.‚”
Mobile Money is as easy to use as sending an SMS. Customers can access Mobile Money services by dialling *120*668# and completing the registration process. Upon registering, a customer can deposit up to R5000 per single transaction to a maximum account balance of up to R25 000. Users can access their funds immediately: buy airtime or prepaid electricity, deposit or withdraw cash, send money and pay for their shopping at Pick n Pay and Boxer stores from an easy drop down menu on their mobile phones. Mobile Money is available to customers from any cellular network. The service is free to MTN customers with minimal transaction fees applicable to certain services for non-MTN customers.