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MTN Mobile Money (MoMo) now offers cash services to its customers at Pick n Pay stores, allowing you to both cash in and cash out money.
The network provider announced the service expansion on 1 April.
“We’re pleased to extend our relationship with Pick n Pay by offering quick and convenient cash-in and cash-out services to our 2,8 million MoMo subscribers through Pick n Pay stores,” said MTN’s chief officer of mobile financial services in South Africa, Felix Kamenga.
New MTN MoMo cash service at Pick n Pay
MTN MoMo is a financial services app that allows customers to make transactions without needing a bank account.
From 1 April, MoMo subscribers can cash-in and cash-out at 1 647 Pick n Pay stores across the country. Previously, subscribers could only cash-out via bank EFTs, at MTN stores, or through a MoMo agent.
“Adding Pick n Pay to our offering will create greater convenience and accessibility for our customers – many of whom need to factor transport costs in when deciding to withdraw cash,” Kamenga explained.
“This burden results in more than 60% of the South African population withdrawing their entire salary from traditional banks on the day of payment to keep it with them, which is not ideal, and not safe.”
To use the service, customers need to have downloaded and registered on the MoMo app. Transactions will need an 8-digit voucher number and PIN number.
Cash-outs at Pick n Pay are charged a flat rate of R8.
MoMo is currently available to all South Africans regardless of the mobile network they use, MTN says. UBank powers the app service.
MoMo subscribers can access over 40 services on the platform.
These include money transactions, airtime and electricity purchases, municipal bills, car license payments, and DSTV subscriptions.
Feature image: Pixabay/niekverlaan