MTN MoMo launches virtual card
Dubbed the MoMo Virtual Card, officials say the innovation will promote financial inclusion and expand digital accessibility and align with its broader goal of promoting cashless economy.
Officials from MTN, Mastercard and DTB Bank during the official launch of the MoMo Virtual Card at Serena Hotel in Kampala. (Courtesy photo)
Ali Twaha
Journalist @New Vision
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MTN Mobile Money (MoMo) Limited in collaboration with Mastercard and Diamond Trust Bank (DTB) have unveiled a new payment solution that will allow customers to conduct secure transactions online.
Dubbed the MoMo Virtual Card, officials say the innovation will promote financial inclusion and expand digital accessibility and align with its broader goal of promoting cashless economy.
The Virtual Card by MoMo enables users to make card-based payments on e-commerce platforms, websites, and social media channels that accept card payments.
Jemima Kariuki Njuguna, Chief Product Officer at MTN MoMo, said by providing a secure and convenient method for accessing online services, the solution will empower customers to participate more actively in the digital economy.
Muhammad Nana, Senior Vice President of Digital Partnerships for Eastern Europe, Middle East, and Africa at Mastercard said the partnership aims to facilitate convenient transactions and support economic growth.