MTN and Pick n Pay updating Mobile Money offering

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MTN and Pick n Pay’s Mobile Money offering has proved to be fairly popular since its inception and the two companies have now detailed some upgrades that will be coming to the mobile banking service.

The updated service that are on the way will give users the ability to make larger transactions and withdrawals, request a transfer from other Mobile Money accounts, ATM and bank card access – with an option to pay a once-off fee for a Visa debit card linked to the Mobile Money account. MTN and Pick n Pay will also be rolling out a SIM card that is linked to Mobile Money, allowing users to earn data and airtime by shopping at Pick n Pay and Boxer stores. Pick n Pay’s Smart Shopper rewards card will also be linked to Mobile Money accounts.

General Manager of Financial Services for MTN SA Peter Malebye said “When we launched Mobile Money with Pick n Pay in 2010, we wanted to show how telecommunications technology can be used to improve the lives of South Africans.  The Mobile Money account enabled customers to make micro-payments, transfer money, and purchase pre-paid electricity and airtime – using their mobile phones. It has been a great success and has encouraged us to innovate to do more for our customers.”

Pick n Pay CEO Richard Brasher added “I am excited by our partnership with MTN, which will give our customers more services and even better value. Together, we are using technology to bring the benefits of secure, convenient and affordable banking to millions of people who are currently excluded from the formal financial system.”

“We will make opening or upgrading a Mobile Money account in Pick n Pay and Boxer stores simple, easy and convenient.  By linking Mobile Money to smart shopper, we will also give customers more reasons to shop with us, and great rewards for doing so.”

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