Fundamo connects 9 banks for MTN in Ghana

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MTN Ghana has connected 9 banks with their network and is looking for more growth.

MTN is currently using Fundamo platform for all of its expansion in the region, although fundamo has capability to support business model from one telecom operator to many banks, many operators to single bank or one to one basis etc. In Pakistan (MPW 138) Fundamo has done the similar work with Access group and offering shared platform services where telecom operators and banks can outsource their mobile and wallet service to run on a shared platform. Banks and Telecom companies do not need to worry for 24/7 operations, bandwidth, VPN’s and hardware.

MTN launched its Mobile Money Train in Bolgatanga with a call on the public especially businesses, to take advantage of the money transfer system to expand their businesses. Lucy Awuni, Upper East Deputy Regional Minister, who launched the facility, noted that it would not only quicken the tempo of business transactions, but will also protect business persons who carry huge sums of money on them while travelling.

The mobile money transfer enables a customer to send or receive money on his or her phone, buy airtime and pay utility bills while at home, office or market. It is said to be time-saving, less risky and controls other important resources, as it is convenient.

Mrs. Awuni said the Government would continue to create and maintain an enabling environment for existing and prospective investors in the telecommunication business, to enable them provide a reliable and cost-effective world-class service for the Ghanaian populace.

She noted that the good business environment would also encourage healthy competition among the operators of the telecommunication venture, thereby resulting in the growth as well as innovations in the industry. She however said, ‘Most people have been complaining about the poor network of telecommunication providers in the sense that one may at times find it difficult in reaching the intended recipient. ‘In some situations, the call will be connected to the recipient but one would not be able to hear any word, whilst the credit continues to run.’

Mr. Abdul Majeed Rufai, Senior Manager of the Mobile Money Implementation (MMI), explained that the mobile money service, provided mobile phone users with the convenient option of opening and operating an electric wallet or a full bank account primarily from their phones, saying that would make it possible for one to have both an electronic wallet and a full bank account in operation.

He described it as convenient, accessible, safe and trustworthy, and said MTN was giving her customers an opportunity to catch up with the latest trend in the financial world. The service is linked up with nine banks in the country. They include, Ecobank, Fidelity Bank, GT Bank, CAL Bank, Stanbic Bank, UBA, Merchant Bank and Intercontinental Bank.