Cameroon: MTN users can now receive MoneyGram transfers right in their mobile money accounts

In a press release published on December 28, telecom operator MTN Cameroon announced that its subscribers are now able to receive Moneygram transfers right in their mobile money accounts.  

"Our subscribers can receive the money directly via their mobile phones without the stress of providing paperwork or the need to travel to any branch," said MTN Cameroon's Mobile Money Director, Alain Claude Nono.

According to John Gely, the head of MoneyGram Africa, this partnership is part of Moneygram’s strategy in Africa where a significant step was taken this year by allowing users to access mobile wallets and offering them account deposit solutions.

Asked whether the new solution is not against the regulations set up by the BEAC (which in 2017 banned mobile money transactions from MTN Cameroon to countries outside the CEMAC region), MTN Cameroon states that this is not the case since the users can only receive funds and the volume of the transactions are limited.

MTN Mobile Money has been operational in Cameroon for 10 years now. It allows users to send and withdraw money, pay their bills free of charge in shops, and pay for several services. With 80,000 active access points across the 10 regions of the country, the operator claims to have the largest national distribution network.

SOURCE:BUSINESSINCAMEROON