MTN Benin and Youtap launch MoMoPay tap and pay solution for mobile money customers
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."