Mobile Money agents kick against new cash-in system introduced by MTN

The Bosomtwe District of the Ashanti Region’s mobile money agents have vehemently kicked against the “direct cash-in” form of transaction that MTN Ghana recently rolled out.

According to the Bosomtwe MoMo Agents Association, the new regulation will permit merchants to stop the standard cash-in procedure and instead help the consumer send the money to its intended location after loading their wallets.

The agents claimed in a press release that the new regulation will further confuse their members and consumers.

“They want us to stop the normal cash-in routine and rather load customers’ wallets. As agents we cannot cooperate with the directives of the telecom giant”, said one of the leaders who gave her name as Godslove Opoku Mensah.

The group is warning that the system when rolled out will bring the mobile money business to its knees.

“We use to earn about 40% on cash-out but recently it has dropped to 36%, and our business is diminishing slowly. The direct cash in the initiative will create problems between customers and agents,” Opoku Mensah indicated.

Mobile money is a service in which the mobile phone is used to access financial services. Mobile money transfer. A movement of value that is made from a mobile wallet, accrues to a mobile wallet, and/or is initiated using a mobile phone.


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