MobileMoney Ltd assures Ghanaians of world-class data security
By Stephen Freeman
The Chief Commercial Operations Officer of MobileMoney Ltd (MoMo), Abdul Razak Issaka Ali, has assured Ghanaians that the company operates one of the most secure data processing and transaction systems in the world, ensuring the highest standards of data protection, system integrity and customer trust.
Speaking at a high-level panel discussion on the theme “From Exclusion to Inclusion – DPI and Inclusive Development in Africa” during a conference organised by the Media Foundation for West Africa (MFWA) on “Journalism and Digital Public Infrastructure”, Mr Ali said MobileMoney Ltd’s platform, powered by global technology giant Ericsson, provides world-class resilience against cyber threats and data breaches.
According to him, the Ericsson-powered platform stands among the most advanced in the mobile financial services industry, with a robust architecture built to guarantee the confidentiality, integrity and availability of customer data.
“Our systems are powered by Ericsson, one of the most robust and secure platforms in the world. It ensures that customer data is always safe and secure, no matter the volume or type of transaction,” he said.
Mr Ali explained that MoMo’s system design leaves no room for lapses in data privacy, adhering strictly to both local and international data protection regulations, including Ghana’s Data Protection Act, 2012 (Act 843).
He noted that every transaction processed through the MoMo platform is encrypted and continuously monitored for anomalies to prevent breaches or unauthorised access.
“The state-of-the-art system safeguards customer data, ensuring safety and security in every mobile money transaction,” Mr Ali emphasised.
Beyond security, he noted the platform’s resilience has made it possible for millions of Ghanaians to access financial services seamlessly, from transfers and deposits to merchant payments and digital savings.
Building an Interconnected Digital Ecosystem
Mr Ali highlighted that MobileMoney Ltd has created a robust ecosystem that goes beyond simple wallets or cash transfers.
Through partnerships with banks, fintech firms and state institutions, the company has built a multi-channel digital payments environment that promotes inclusion and innovation.
We’ve built an ecosystem that allows us to leverage multiple partners, banks, merchants, utilities and digital service providers, to expand beyond deposits, withdrawals and transfers,” he said
One of the key enablers of this integration is the collaboration with the Ghana Interbank Payment and Settlement Systems (GhIPSS) infrastructure.
Through this, MobileMoney Ltd has achieved seamless interoperability, allowing users to send and receive money across different electronic money issuers (EMIs) and bank accounts.
Mr Ali commended the Government of Ghana for championing several digital payment initiatives that have laid the foundation for broader adoption.
He cited examples such as electronic payments at the Electricity Company of Ghana (ECG) and digital platforms at the country’s ports, which have accelerated the shift towards a cash-lite economy.
“We must give credit to the government for driving innovation in the digital payments space. Efforts like ECG’s e-payment systems and the digitisation of port services show what is possible when public institutions take the lead,” he highlighted.
However, Mr Ali stressed that more needs to be done to mainstream digital payments across all sectors, including public services, transportation and education, to further reduce reliance on cash.
“If government champions digital payment, it becomes easier for everyone to accept that this is the way to go. There are still a lot more transactions to bring on board, and when that happens, the ecosystem grows stronger,” he added.
