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MTN Uganda approaching one million MobileMoney subscribers

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By: , IntoMobile
Friday, June 4th, 2010 at 4:35 AM

Don’t know about you but I love mobile money services. Simply put, they are the future, allowing us to access our bank accounts while on the go, even without a laptop. In developing countries, such services are set to bring banking services to the so called unbanked, a part of the population who don’t have access to the traditional banking branches.

On that note, MTN Uganda announced that it is approaching the one millionth mobile money services user. So far they managed to register 890,000 users to the MobileMoney service, which is 16% of MTN’s subscriber base. The goal is to reach 2 million users by the end of this year, and 3.5 million by 2012.

To celebrate the success of the service, MTN Uganda shared some interesting numbers:

  • $195 million was moved through the platform since launch in March 2009
  • 11.8 million transactions since launch in March 2009
  • $21 USD average transaction – the average Ugandan person lives on under $1 USD a day
  • 1005 active agents and more than 2,500 direct sales reps
  • More than 1,600 MTN MobileMoney service outlets
  • Approximately 60% of transfers are to recipients in rural areas – serving the unbanked

Love it and I’m looking forward to see how similar services bring a better livelyhood in other parts of the world…

And in case you wonder, MTN MobileMoney is a SIM card deployment, which was made possible in partnership with Fundamo.

About The Author

Dusan Belic

Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.

  • MWAHULHWA WILSON

    I am an MTNmobile money subscriber account number 0772676020.Three weeks ago, i recieved money from my brother for an urgent use (school fees). When i went to the mtnmobile money outlet in Kasese town, i was told my account was not active. I filled new forms to update my account but upto now i can’t access my money. I called customer help line and was told the problem would be rectified in 24 hours; but these are now 24 days. Please rectify my account

  • mashed

    Is it possible for us to compare this to Zain's ZAP numbers?

  • Ssebowa Mikidad

    Am a new mobile money customer, I registered on Saturday 10th but my account is not yet active and am in need of mobile money services now. Could you please activate my account

  • guest

    are these posts for real?