MTN Mobile Money launches ‘Cashless Market’ initiative
By Zeenatu ABUBAKAR, Accra
MTN Mobile Money Limited has launched an initiative dubbed “Cashless Market” in Accra.
The initiative aims to promote a cashless economy that enables trading and transactions without the use of physical cash.
It is a collaborative effort between MTN, banks, small and medium enterprises (SMEs), the fintech community, and the Bank of Ghana.
The Chief Executive Officer of Mobile Financial Services, Sylvia Otuo-Acheampong stated that the event seeks to demonstrate how a cashless society can function efficiently using mobile money.
She indicated how mobile money has matured to the point where it can support a fully cashless system, allowing customers and merchants to conduct transactions seamlessly without handling cash.
This is the first edition of the Cashless Market, and we are thrilled to have all ecosystem partners on board to support this project.” She said
She added that the goal is to help Ghana transition into a cashless economy, similar to what is seen in other countries that are big on card payments.
She stated that MTN Mobile Money’s leadership is focused on ensuring consumer education and protection from fraud.
She noted that the key to reducing fraud lies in educating consumers about safe transaction practices.
The Chief officer also encouraged users to remain vigilant, avoid sharing personal identification numbers (PINs), and be cautious of suspicious calls that aim to defraud them.
She mentioned that MTN continues to work closely with security agencies to clamp down on fraudulent activities.
Sylvia Otuo-Acheampong noted that MTN has introduced a new mobile app to enhance the customer experience, allowing users to view statements, set up recurring payments, and enjoy more features.
She added that MTN has also launched a “Refer-a-Friend” programme, rewarding users with free data when they invite others to download and use the app.
She also expressed her gratitude to all partners, and the SMEs participating in the Cashless Market.
She encouraged customers to embrace mobile money and enjoy the convenience, speed, and security it offers.
She further revealed that MTN plans to expand the Cashless Market initiative to other regions based on the success of this inaugural edition, bringing financial inclusion to more Ghanaians and promoting the adoption of digital financial services across the country. The Cashless Market event was organised by MTN Mobile Money Limited Ghana, in partnership with GCB, Access Bank, Hubtel, miLife Insurance, Chango, Republic Bank (Ghana) PLC, and IT CONSORTIUM.
