COTONOU, Benin, June 20, 2017 /PRNewswire/ -- Mobile network operator MTN Benin and Youtap have launched MoMoPay, a contactless mobile payment service for MTN Benin Mobile Money users.
MoMoPay enables MTN Benin Mobile Money customers to 'tap and pay' for goods and services instantly and securely with their mobile devices. The service relies on near-field communication (NFC) technology developed by Youtap, a global provider of contactless mobile payments and financial services software.
An innovative feature of MoMoPay is the ability for users to make payments and receive small change (rendu monnaie) from merchants directly into their MTN Mobile Money accounts, solving the problem of giving small change back to customers that many merchants face today.
MoMoPay is being rolled out to supermarkets, pharmacies, bookstores, restaurants and petrol stations in Cotonou and to Zemidjan motorcycle taxis, which are the main form of transport in the country. The service will be expanded to all parts of Benin.
At the launch event, Mr. Stephen Blewett, CEO of MTN Benin, said, "MoMoPay is going to make life easier for millions of Beninese. I'm very proud to be part of MTN Benin and playing a part in growing cashless payments."
Mr. Virgile Toffodji, managing director of MTN Mobile Money, said, "MoMoPay is a very easy and very secure solution that will revolutionize the world of payment in pharmacies, petrol stations, resorts and travel companies. We have a terminal – the X8 – that will revolutionize the world of transport. Now Zemidjan motorcycle taxis, urban taxis that the government wants to launch, and long-distance buses will also be able to use this solution."
Shaun Morgan, VP Sales – Africa for Youtap, said, "We are excited about launching our payment solution in another MTN market and working with MTN Benin in the launch of MoMoPay. Youtap is committed to supporting MTN Benin's mission to transform the market by offering this innovative service to its customers."
About the MTN Group (www.mtn.bj)
Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: "MTN." As of 30 September 2016, MTN recorded 234.2 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Ivory Coast, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia.
Youtap enables in-store and contactless "tap and pay" payments for mobile network operator (MNO) mobile money wallets at any point of sale with any payment device. Youtap is the proven technology leader to MNOs, enabling digital mobile money wallets to transact for a range of microfinance and public services, including transport. Youtap supports MNOs and retailers by incorporating loyalty programs and other responsive functionalities that benefit both consumer and merchant.
Youtap was the first company in the world to pioneer the use of NFC stickers, wearables and cards integrated into a mobile money wallet. Youtap's terminals and associated payment gateway products conform to the latest standards for open- and closed-loop payment acceptance.
On the web: www.youtap.com
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