0
Wireless

MTN to revisit financial services in South Africa

Monday 12 March 2018 | 09:43 CET | News
MTN South Africa says it wanted to have another crack at financial services in its home market after withdrawing from mobile money there in 2016, BusinessDay reported. CEO Rob Shuter said that high banking penetration rates in South Africa meant mobile money "has been tried quite a few times here" without success, and the model was not suited to Iran, MTN's third-largest market, for similar reasons. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: MTN Irancell / MTN South Africa / MTN Sudan
Countries: South Africa
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

MTN South Africa launches network-neutral mobile money service

Published 30 Jan 2020 14:13 CET | South Africa
MTN South Africa has launched a mobile money service (MoMo) to enable around 11 million people to access financial services. MoMo ...

MTN South Africa to launch mobile money service in January

Published 19 Dec 2019 10:09 CET | South Africa
MTN South Africa has announced that its mobile money service, MoMo will go live in January 2020. Customers will be able to send, ...

MTN plans to relaunch mobile money in South Africa before end of Q4

Published 22 Oct 2019 10:34 CET | South Africa
MTN South Africa says it will launch a new mobile money service before the end of the quarter, reports Mybroadband. MTN South ...

MTN South Africa ties up with Ericsson as it plans to relaunch mobile money

Published 14 Aug 2019 09:43 CET | South Africa
MTN South Africa is making "good progress" in its plans to relaunch mobile money services, TechCentral reported citing group CEO ...

Nedbank's MobiMoney pilot attracts 50,000 users

Published 30 Nov 2018 11:22 CET | South Africa
South Africa's Nedbank's new mobile account MobiMoney has seen more than 50,000 people sign up in less than eight weeks in the ...

MTN Group plans to offer mobile money in Nigeria and South Africa, buys Simfy

Published 14 Nov 2018 09:15 CET | Nigeria
MTN Group will apply for a mobile banking licence in Nigeria and is expected to launch the service in 2019, Reuters reported. MTN ...

Shoprite launches mobile money platform, plans to move beyond South Africa eventually

Published 25 May 2018 10:58 CET | South Africa
South African retail chain Shoprite has partnered with Standard Bank, Google and global financial technology company Celbux to ...

FNB launches app for customers to open account with a selfie

Published 17 May 2018 09:47 CET | South Africa
South Africa's First National Bank (FNB) has introduced a range of financial services that make it possible for consumers and ...

MTN South Africa improves EBITDA margin on 2.5% higher service revenues in Q1

Published 03 May 2018 15:22 CET | South Africa
MTN reported that its EBITDA margin in South Africa increased by 150 basis points year-on-year to 35 percent in the first ...

South Africa rules out new regulations for payment systems on social media

Published 26 Apr 2018 11:15 CET | South Africa
The South African Reserve Bank (SARB) says it does not currently see the need for special regulations to deal with payment ...

MTN South Africa commits to creating 1,000 jobs under Youth Employment Service scheme

Published 26 Apr 2018 10:32 CET | South Africa
MTN Group said it is supporting of the Youth Employment Service (YES) and has committed to the creation of 1000 jobs within the ...

FNB plans to launch eWallet eXtra mobile-only account

Published 19 Apr 2018 09:14 CET | South Africa
South Africa's First National Bank has announced the imminent launch of a mobile bank account that can be opened via a feature ...

PayPal seeks partnerships with African mobile money operators

Published 30 Mar 2018 10:39 CET | South Africa
PayPal is seeking partnerships with mobile money operators to raise its exposure to Africa's unbanked population, says Efi Dahan, ...

FNB enables purchases at Spar stores using eWallet

Published 30 Mar 2018 10:39 CET | South Africa
FNB said that consumers can now use its eWallet to buy goods and withdraw cash at participating owner-managed Spar shops in South ...

MTN South Africa launches 100% Bonus Starter Pack

Published 29 Mar 2018 11:28 CET | South Africa
MTN South Africa has introduced the new 100 percent Bonus Starter Pack as part of the prepaid portfolio revamp that has led to ...

MTN South Africa raises some prepaid call prices

Published 26 Mar 2018 09:49 CET | South Africa
MTN South Africa has announced price changes to certain prepaid call rates with effect from 23 March, reports Mybroadband. MTN ...

MTN Cameroon says has no plans for exit

Published 16 Mar 2018 11:14 CET | Cameroon
MTN has dismissed reports that it will be exiting certain markets, including Cameroon. A statement from MTN Cameroon sought to ...

Blue Label acquires 60% stake in airtime advance provider Airvantage

Published 26 Feb 2018 09:15 CET | South Africa
South African company Blue Label Telecoms is buying a 60 percent stake in local company Airvantage for ZAR 151 million, ITWeb ...

Pay2 P2P app starts up in South Africa, backed by FNB, Investec and Nedbank

Published 14 Feb 2018 09:27 CET | South Africa
South African businessman Henry McCarter has launched a mobile banking app called Pay2 which he says will help change the way ...

BitPesa plans to launch in South Africa by Q2

Published 07 Feb 2018 08:45 CET | South Africa
South Africa's BitPesa plans to launch the foreign exchange and payment platform in South Africa by Q2 in 2018, reports ITWeb. ...

FANAP offers KeyPod electronic wallet in Mashhad

Published 11 Dec 2017 13:21 CET | Iran (Islamic Republic of)
Iranian ICT company FANAP has begun providing its eWallet 'Keypod' commercially in the eastern city of Mashhad, reports Financial ...

Iran set to launch mGovernment Services

Published 23 Nov 2017 11:29 CET | Iran (Islamic Republic of)
Iran is developing its mGovernment services, which will be soon launched as part of Iran's National Portal for smart Government ...

Mastercard partners with Spazapp to m-payments to informal traders

Published 14 Nov 2017 13:46 CET | South Africa
Mastercard is collaborating with South Africa's-based tech company Spazapp to bring secure, seamless and convenient mobile ...

MTN Group seeks to triple digital bank customers within 3 years

Published 06 Nov 2017 11:08 CET | Africa
MTN Group plans to triple its digital bank customer numbers within three years, reports Bloomberg. Group CEO Rob Shuter said MTN ...

TCI set to launch NFC payments service

Published 23 Oct 2017 11:18 CET | Iran (Islamic Republic of)
The Telecommunications Company of Iran (TCI) is set to launch a new service called eWallet for facilitating online purchases, the ...

Bluetooth mobile payment service launched in Iran

Published 05 Jun 2017 16:50 CET | Iran (Islamic Republic of)
Programmers from Iran's largest local Android app store have developed a new payment application which enables users to transfer ...

Sudan regulator proposes mobile money transfer limit

Published 10 May 2017 11:48 CET | Sudan
Sudan industry regulator the National Telecommunications Corporation (NRC) plans to impose restrictions on domestic mobile money ...

MTN decommissions mobile money service

Published 15 Sep 2016 18:57 CET | South Africa
MTN South Africa said it has decided to decommission its Mobile Money due to a lack of commercial viability but promised to ...

MTN South Africa halts new mobile money sign-ups

Published 05 Sep 2016 10:24 CET | South Africa
MTN South Africa has stopped signing up new mobile money customers as it studies the feasibility of the product, reports Fin24. ...

RedCloud powers of Bank of Khartoum m-banking

Published 15 Dec 2014 09:47 CET | Sudan
RedCloud's ICENI mobile platform is powering Bank of Khartoum's launch of Hassa, Sudan's first mobile financial service. Hassa ...