Mobile network operator, Lonestar Cell MTN and Youtap, a contactless mobile payments provider, have launched Momo Pay, a contactless mobile payment service for Lonestar Cell MTN mobile money users in Liberia.
The service, which uses Near Field Communication (NFC) technology, will enable Lonestar Cell MTN customers in the country to ‘tap and pay’ for goods and services instantly and securely with their mobile phone at the point of sale.
The Momo Pay service, which is being rolled out to a wide range of merchants such as supermarkets, pharmacies, petrol stations and all other payment acceptance points, is available in MTN markets including Uganda, Benin, Swaziland and Rwanda.
This move is aimed at making daily financial transactions comfortable and convenient as well as eliminating the risk associated with handling cash, such as theft, leakage and loss.
In the future, the service would be able to incorporate other methods of payment such as QR codes.