MTN MoMo Surpasses 1 million Registered Users in South Africa

“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.”

MTN MoMo app
MTN MoMo app

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.”

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