MTN announced on Monday that its mobile money service, MoMo, has reached a significant milestone of registering one million customers across South Africa.
The operator said this indicates a growing demand for fast and efficient ways to store, send and spend money.
The mobile payment service was launched to the public on 1 February and the millionth customer was registered on 19 June.
MTN saw an increase in MoMo registrations and usage since the nationwide lockdown began in late March, specifically in peer-to-peer remittances, with people sending money to family and friends.
Demand for value-added functionalities like purchasing pre-paid electricity, and renewal of driver’s licence discs, has also picked up considerably.
“We’ve facilitated more than 600 car licence renewals since the service re-opened under revised lockdown level 3 regulations at the beginning of June, and we expect this to remain a key driver of growth as more people begin driving again and go back to work,” says Chief Officer of MTN SA’s Mobile Financial Services, Felix Kamenga.
“This is a clear indication that South African consumers are ready to embrace the digital world, with South Africa fast establishing itself as a primary hub for mobile money.”
