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MTN mobile money fondly known as MOMO has expanded to Ghana. The open API platform launched is to give business owners a chance to develop revenue-generating applications.
What is MTN mobile money?
MTN mobile money is a digital service which lets its users to send and receive money on their wallet. They can also pay a couple of transactions and make payments with just a mobile phone serviced by MTN. It is a convenient way to do online transactions and is also very affordable.
How it works?
The MTN mobile money stores user’s funds in a actual digital account to linked to a mobile number. But it has to a mobile number registered with MTN mobile money.
MTN mobile money wallet holders can be used in several ways. With an MTN mobile money wallet one can:
- Receive and store money.
- Send money to other MTN mobile user – registered on mobile money or not.
- Send money to any other local networks.
- Withdraw cash at any authorized MTN Mobile Money agent.
- Top-up MTN airtime.
- Pay bills Buy and pay for insurance.
- Pay salaries, airline tickets, school fees and other services.
The Open API– MTN and Ericsson
Under the new partnership, MTN will grant access to third parties to its Mobile Money Access Programming Interface (API) which is powered by Ericsson Wallet Platform. The open API platform will give developers and programmers free access to MTN mobile money proprietary software platform. They create products around easy payment options and leverage the MTN clients registered on mobile money.
The new open API platform will create a new type of ecosystem which everyone can have access to. And help in accelerating the future of mobile payments.
The online system also allows developers to test their products before going live, by using a sandbox available on the website at no additional cost.
In statement, Fadi Pharaon, President of Ericsson Middle East and Africa says:.
“Our new partnership with MTN in Ghana aims to develop a more open, easy and accessible mobile money network. Ericsson is driving this change of making Mobile money more open by collaborating with MTN to advance secure, flexible platforms that help build an interconnected and transparent financial ecosystem.”
About MTN Ghana
MTN Ghana is the market leader in the increasingly competitive mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay Monthly and Pay As You Go Services.
The company has committed itself to delivering reliable and innovative services that provide value for subscribers in Ghana’s telecommunications market. MTN has continuously invested in expanding and modernizing its network since its entry into Ghana in 2006.
The company has also built three modern Switch and Data centres to deliver stable, reliable, efficient and robust Telecom and Data Services to customers.