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MBABANE – Eswatini MTN FinTech Services presently carries out approximately 500 million transactions a month and have an active user base of 400 000 people countrywide.
This was disclosed by the MTN FinTech Business Development Manager, Lomkhosi Dludlu, during the launch of the Eswatini Beverages Limiteds (EBL) mobile payment solutions at Royal Villas on Monday.
The digitisation approach to payments by EBL is in conjunction with MTN Eswatini and Standard Bank Eswatini’s Unayo for Business platforms.
Speaking during the launch Dludlu intimated that 10 000 active agents and 6 000 active formal merchants would ensure that MTN FinTech Services collaboration with EBL epitomizes innovation, convenience and safety.
Improved
She mentioned that this innovation would enable improved efficiencies, enhanced accessibility, improved service and economic benefits for EBL. It will also ensure safety and accessibility, time and cost savings, improved service quality and economic benefits for their clients.
Dludlu observed that through the Mobile Money (MoMo) platform EBL would bring an improved customer experience with real time customer data which will keep customers happy.
She said it would save time for businesses in which customers would enjoy the convenience of uninterrupted business hours and avoid queues.
“Transactions through the MoMo platform allows instant payments with no waiting periods for funds to clear. Furthermore, there are no administration costs involved. Most importantly, this platform allows for the convenience of transparent business transactions while reducing the risk of working with cash,” she said.
Accessibility
Dludlu added: “This platform holds the promise of financial inclusion and accessibility. By embracing this cash less solution barriers are being broken down in that everyone regardless of their financial background and location can participate in a modern economy. This is mutually beneficial for MTN, the client and for the EBL.”
In order to use the service one has to be a mobile money client, one can be an individual subscriber or a MoMo business client as well. There are three ways that clients can make money transfers.
Head of Standard Bank Eswatini’s Unayo, Sanele Zondi said: is about convenience and making sure that anybody can have access to banking.
This is to the extent that it is possible to open an account within a space of three minutes.
It is a financial inclusion solution that has a reach of up to 100 thousand customers who are registered with the Unayo account..”
“Unayo is a digital business account where one can make payments to other banks, send money to someone else, carry out cash withdrawals and cash deposits, make payments for goods, bulk payments, the payment of salaries and the collection of money from clients in such a way that one avoids carrying large amounts of cash” she said.
Other transactions include the usual payment of utility services such as water and electricity.
There are UNAYO Agents with representation in all four regions Tinkhundla centres, more than 4 000 merchant coverage countrywide including 100 ATMS and 37 Post Offices.