Verifone Mobile Money and MTN Announce Agreement to Deliver Retail Payment Device to MTN Mobile Money Customers

AUCKLAND, New Zealand and DUBAI, United Arab Emirates, March 23, 2015 /PRNewswire/ -- Verifone Mobile Money and MTN Group, today announced an agreement to deliver retail payment devices to merchants across 16 of MTN's operating countries. The solution will enable customers to pay for goods and services using their mobile phone and MTN Mobile Money wallet, while merchants will be provided with payment terminal solutions from Verifone.

"We are excited to partner with MTN to enable their growing base of 219 million subscribers, particularly the 22 million MTN Mobile Money users, to use this innovative retail enablement software," said Chris Jones, CEO, Verifone Mobile Money. "Access to mobile money boosts financial inclusion and prosperity, offering mobile phone users a convenient and safe way to access a variety of financial services.

"This partnership will provide merchants with the technology needed to accept mobile payments from MTN's growing mobile money customer base. Working with MTN, we also intend to provide merchants with additional ways to leverage this technology to further enhance the consumer experience."

MTN Group Head of Mobile Financial Services, Serigne Dioum, said: "We have created a customer experience where the mobile phone remains truly central to retail payment, thus ensuring continuity with our mobile financial services. This partnership will also allow contactless payment in the near future. As MTN, we are hopeful that our relationship with Verifone will contribute to the growth of mobile retail payments in markets where cash remains predominant."

About Verifone Mobile Money (www.verifonemobilemoney.com)

Verifone Mobile Money is a joint venture between Verifone Systems Inc. and Mobilis Networks Limited to provide complete mobile money solutions designed to meet the needs of mobile operators for telco-based money transfer and payment services in emerging markets.

VeriFone Mobile Money offers a complete mobile money solution for mobile money providers in emerging markets. In addition to mobile money transfer services, VeriFone Mobile Money delivers quick and easy mobile money payment acceptance at the point-of-sale through VeriFone Inc.'s range of secure biometric and contactless payment acceptance devices.

About the MTN Group

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 2014, MTN recorded 219,2 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d'Ivoire, 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. Visit us at, www.mtnbusiness.com, www.mtn.com and www.mtnmmo.com

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SOURCE VeriFone Mobile Money

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