Starting today, MTN MoMo (Mobile Money) subscribers will be able to cash-in and cash-out at 1647 Pick n Pay stores across the country. MTN believes this offers consumers a secure and cost-effective means of transacting that also alleviates the risks of managing cash.
Customers should be registered on MoMo app to use the new service. They will require an 8-digit Voucher Number and a PIN number to perform a MoMo transaction at the Pick n Pay point of sale tills.
“We're pleased to extend our relationship with Pick n Pay by offering quick and convenient cash-in and cash-out services to our 2,8 million MoMo subscribers through Pick n Pay stores,” says Felix Kamenga, MTN SA’s Chief Officer of Mobile Financial Services.
“Until now, MoMo customers have only able to cash-out through bank EFTs, at an MTN store or via a MoMo agent. Adding Pick n Pay to our offering will create greater convenience and accessibility for our customers – many of whom need to factor transport costs in when deciding to withdraw cash,” explains Kamenga.
“This burden results in more than 60% of the South African population withdrawing their entire salary from traditional banks on the day of payment to keep it with them, which is not ideal, and not safe”, continues Kamenga.
MTN notes unlike traditional bank accounts, MoMo has no monthly fees and no monthly charges. Cash-out at Pick n Pay will be charged at a flat fee of R8.
Available to all South African citizens, regardless of the network they are using, MoMo, powered by UBank, enables customers to use their mobile devices to access over 40 services – including to send and receive money, purchase airtime and prepaid electricity, and pay for their municipal bills, vehicle licences and DSTV subscriptions.
“MoMo is ideal for those who would rather not withdraw cash from their accounts to pay for transactions that are quick and easy to do from their phone - this ranges from people who have not been part of the formal financial services world, to those looking for a convenient way to purchase luxury goods”, continued Kamenga.
MoMo is available to smartphone and feature phone users. For more information, please visit: https://www.mtn.co.za/Pages/momo-mobile-money