How MTN MoMo became the best mobile payment platform in Ghana

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MTN Ghana’s Mobile Money (MoMo) service is the best mobile payment platform in Ghana for two reasons, and you’ll soon know what those reasons are. After more than a decade since its introduction into Ghana’s fintech space, MTN MoMo has done much in terms of innovation, to keep itself ahead of the pack of competitors.

There are many mobile money payment services in Ghana. Aside from those run by the three telecommunications companies, namely MTN Ghana, Vodafone Ghana, and AirtelTigo, there are other states (GCB Bank’s G-Money) and private-run payment services available too.

All these payment platforms have a lot in common. You can pay bills, buy airtime, transfer funds across networks (interoperability) …you can describe these as only offering standard services and nothing different.

MTN MoMo, on the other hand, has two innovative additions that place it ahead of the competition — effectively establishing it as the best mobile payment platform in Ghana when it comes to innovation and its readiness to go beyond the regular.

Fintech in Ghana
(image credit: John-Bunya Klutse / JBKlutse)

MoMo is the best mobile payment platform in Ghana.

These two things offered by MTN MoMo sets the payment platform apart from the rest of the competition.

Availability on Google Pay

If fintech and mobile payment platforms are intended to bring the unbanked into the formal sector, then services shouldn’t be limited to just paying for goods and services on the local front. As an avid gamer, I was pleasantly surprised to know that I could make in-game purchases with my MoMo account, something that hitherto was limited to my bank debit card only.
That opened the gate for me to enjoy premium in-game services without having to use my bank details, something I’ve always been wary about.

Of course, later on, Vodafone Ghana also became available on Google Pay. However, without attempting to take anything away from Vodafone Cash’s efforts, the fact remains that MTN MoMo got to the summit of that ‘mountain’ first, and it is worth acknowledging.

Financial services (QwikLoan and the others)

One of the add-on services that make MTN MoMo the best mobile payment platform in Ghana is the QwikLoan emergency loan service that is available on the platform.

Let’s face it; there are times you just want a little extra to sort your ‘one-two’ without having to involve too many people in your affairs, and this service is so convenient for anyone in such a situation. Even if you won’t use the loan facility, it is nice knowing that something of the sort exists — that you can access when you decide to.

MTN is a telecommunications company; and that we know. But for it to have the foresight that running such a service on its platform would do much good for its subscribers, it is admirable and proof that it intends to do more than just bring essential services to the many loyal customers it has.

Facebook Pay; A challenge to MTN MoMo

All these milestones reached, notwithstanding, there’s still some way to go for MTN; if it’s genuinely going to rule the space as the preferred and best mobile payment platform in Ghana for a long time.

For someone who runs a business page on Facebook and its associate, Instagram, I have to again deal with something I’d rather avoid; using my bank debit card. The only other option is Paypal, and that is officially unavailable in Ghana.

It would be beautiful when we get to the point where I can pay for business ads on Facebook with my MTN MoMo account, just like I already do on Google Play. For me, that’s a day I look forward to, and knowing how MTN likes to be at the forefront of innovation in Ghana, it shouldn’t be long — if it isn’t already being worked on.

To conclude

MTN MoMo being the best mobile payment platform in Ghana, is not to say that the platform is without problems. Of course, we all know about the MoMo fraud issue plaguing the service. However, we like to believe that MTN Ghana is not resting on its oars.

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