Tag: mobile money
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MTN launches Africa’s first artificial intelligence service for Mobile Money
MTN Group has announced the launch of Africa’s first Mobile Money (MoMo) artificial intelligence service or “chatbot”. The chatbot went live in Ivory Coast in May and will be rolled out across MTN’s MoMo footprint in the next few months. The artificial intelligence mobile money “assistant” enables customers to engage with MTN’s MoMo services, including…
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Cheques usage declines as MoMo grows stronger — Bank of Ghana report
Cheques popularity as a means of payment declined in the first quarter of 2019, data from the Payment Systems Department of the Bank of Ghana has shown. According to the central bank’s data, which excludes in house cheques, the total number of cheques cleared in the first three months of this year stood down by…
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Revenues telcos earn from mobile money should be taxable — George Andah
Deputy Minister of Communications George Andah has said that government is exploring the possibility of taxing the income mobile money companies earn from transactions. Mr. Andah speaking at the Ghana Digital Roadmap event last week said it should be possible for government to explore revenue opportunities in the mobile money ecosystem suggesting that government wants…
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MTN rakes GHS710 million in MoMo cash out fees, commission etc
MTN recorded more than GHS710 million in revenue from its mobile money operations in 2018, an increase of more than 60 percent year-on-year, according to information contained in the company’s 2018 Annual Report. The strong performance in revenue translated into mobile money contributing 17.7 percent of the group’s total revenue which stood at GHS4 billion.…
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Mobile money fraud: Police, telcos seek review of prosecution process
The Cyber Crime Unit of the Ghana Police Service is advocating a possible review of the current process in investigating and prosecuting fraud cases in mobile money transactions. The security agency believes the current procedure could partly be blamed for the seeming lack of interest for victims to report instances of fraud hence increase in…
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MTN pays 17 million cedis as interests on mobile money
MTN Ghana has commenced payment of 17.1 million cedis to 10,630, 175 customers as interest earned for the first quarter of 2019. The payments commenced on Sunday [April 28, 2019]. A statement from MTN to Citi Business News said the 2019 first quarter payments brings to over 156.2 million cedis in interest paid to Mobile…
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Telcos start payment of interests on mobile money for 2019
Users of mobile money services of the various telecommunication companies should be receiving interests on their wallets for the first quarter of 2019, by the end of this week. It comes on the back of the publication of the interest payment calendar by the Bank of Ghana. The payment calendar for interests on mobile money…
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SMEs skeptical of mobile money services (Audio)
Businesses are still skeptical of the use of mobile money despite the boom in patronage of the service. Citi Business News’ checks with some small scale business owners show mixed reactions to the use of mobile money services. This means more needs to be done to increase patronage. In the build up to the Financial…
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Telcos not taking over banks with interoperability
Telecom industry players have insisted they are not taking the place of banks even with the launch of the mobile money interoperability. The telecom operators however believe the new system should help reduce the number of people not captured within the banking population. The comment also comes three days to the official launch of the…
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Mobile money boosts MTN’s 2018 first quarter growth
MTN Ghana has recorded a 29.3 % increase in revenue for the first quarter of 2018. This growth has largely been driven by increased data and mobile money subscription for the telecoms giant. For the first three months of this year, MTN recorded more than fifty percent rise in revenue from the sale of data.…