The Merchant numbers as provided by the Mobile Telecommunications Network, (MTN) is a six-digit code that enabled customers and business owners to do business electronically as against bulk carriage of monies and its associated risks.

Mr. Prince Owusu Nyarko, the lead for the South-West Business District of the MTN at the launch of the 2023 Momo season in Takoradi on Wednesday, said August and September had been dedicated to rewarding the over 11 million Momo users across the country.

Over the years, MTN had initiated groundbreaking milestones including the mobile money in Ghana and within the West Africa sub- region.

Since its launch in 2009, MTN MoMo has redefined Ghana’s financial services industry– an innovation that had continued to boost financial inclusion and brought financial services to the doorsteps of Ghanaians across the length and breadth of the country.

In 2022, Momo transactions grew to 1.07 trillion as against 902.5billion in 2021 as published by the economic and financial data of the Bank of Ghana.

Mr. Nyarko said within the 14 years of MTN mobile money, it had contributed to Ghana’s socio- economic growth while spearheading financial technology advancement.

He said, “The ease and convenience of transactions and our reach across the country has boosted financial inclusion, made payments innovative and created jobs for many people.”

“Ghana’s digital payments sector continued to hold major prospects and potential to accelerate sustainable economic growth, building a robust and resilient economy and create job opportunities for millions of Ghanaians.

But despite the significant progress the sector had chalked, there were still challenges which called for collaboration, exchange of ideas, deliberate policies and massive awareness to address the barriers.”

The Business lead stated that, MTN was appreciative of the tremendous contributions by stakeholders and partners for the support in the company’s quest to build financial inclusion, adding, “We cannot highlight the success stories of MTN MoMo and reach new frontiers without acknowledging the efforts and invaluable contributions of our partners over the years”.

Meanwhile, the Mobile Money Limited would continue to lead the delivery of a bold new digital world to customers by addressing the barriers to digital payments adoption through the development of innovative, robust solutions and initiatives while leveraging digitization to revitalize the Ghanaian economy.