9 April 2018

Liberia: Lonestar Cell MTN Launches 'Momo Pay' to Improve Electronic Payment

Lonestar Cell MTN Mobile Money staff demonstrate the MoMo Pay service at ERA supermarket in Sinkor.

In line with the government's vision for a digital and cashless economy, Lonestar Cell MTN on Friday April 6, 2018, unveiled its newest innovative Mobile Money electronic payment platform called "MoMo Pay" in the country.

MoMo Pay service allows Mobile Money subscribers to pay for goods and services by simply tapping their mobile phones against a point-of-sale (POS) device, followed by a final step to confirm the purchase.

The move, according to Lonestar Cell MTN, is aimed at making daily financial transactions easy and convenient as well as eliminating the risk of carrying cash around in wallets or purses that could easily be dropped or stolen.

The new service is being powered by smart stickers attached to subscribers' mobile phones at the back.

Speaking at the launch in Sinkor, Massa M. Dennis, General Manager of Mobile Money said, Lonestar Cell MTN is committed to providing an effective way for customers to pay for goods and services with just a tap.

According to her, MoMo Pay will be rolled out in supermarkets, pharmacies, bookstores, restaurants, petrol stations and all payment acceptance points.

Ms. Dennis further explained that the service will enable Mobile Money subscribers to make payments for goods and services at any Mobile Money acceptance point using the Mobile Pay stickers.

"This innovative service will enable mobile phones and merchant POS terminals to seamlessly connect to the Lonestar Cell MTN Mobile Money wallet where our 1 million Mobile Money subscribers will be able to pay for goods and services simply by "tapping" their phones on a merchant point of sale device," she said.

Ms. Dennis said Mobile Money is working in partnership with major commercial banks to offer an integrated service that allows Mobile Money subscribers to "Pull Money" from their bank accounts onto their Mobile Money Wallets and to "Push Money" from their Mobile Money Wallets to their bank accounts from the comfort of their homes and offices.

She said Lonestar has already covered the risk by requiring in-person registrations for the SIM card and the Mobile Money subscription, as well as user passwords.

Recounting the genesis of the company's commitment, Ms. Dennis said Lonestar Cell MTN made a promise to the Liberian people to provide world-class digital financial services and "today we are honoring that commitment and almost 4,000 civil servants in the rural areas are receiving their salaries through Mobile Money."

The Mobile Money General Manager also expressed gratitude to the Central Bank of Liberia (CBL) for providing an enabling environment for the growth of digital finance in the country.

David K. Sembeh, president of the Liberia Business Association (LIBA) lauded the company's management for the many services provided to Liberians over the years which are all economic benefits to the public, particularly the business community.

He reaffirmed LIBA's commitment to making maximum use of the new product and to enhance the economic benefit of Liberia.

In separate remarks, the head of Domestic Banking at Ecobank Liberia, Gibson K. Kollie and a representative from the CBL Digital and Consumers Protection Unit promised to work with the GSM company to realize the objective of the CBL in providing digital financial services for Liberians.

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