Ghana: MTN, Ecobank Sign Mobile Money Partnership


FEB 28, 2014


MTN Ghana and Ecobank have partnered to extend card-less automated teller machines (ATM) services in the country. With this partnership, MTN Mobile Money subscribers can now enjoy the convenience and ease of withdrawing money instantly from Ecobank ATMs anytime and from anywhere without a card.

Ecobank is the latest partner bank to offer this service to MTN Mobile Money subscribers in Ghana.

The Senior Manager for MTN Ghana Mobile Money, Eli Hini, said, “MTN is constantly finding new ways of delighting customers through our Bold New Digital strategy.”

He urged other banks to emulate this initiative to enrich the user experience of customers.

Owureku Asare, Regional Manager for Cards and Electronic Banking (Ghana and West African Monetary Zone) at Ecobank, welcomed the partnership.

“The partnership with MTN to offer Mobile Money customers the opportunity to perform Cardless withdrawals from over 200 Ecobank ATMs in Ghana is to strategically make branchless banking a reality by activating multiple channels,” Asare said.

These channels include mobile phones, internet, Points of Sales (POS), ATMs and through Agents.” He further mentioned that, the Branchless Banking strategy will provide convenience that complement\'s the lifestyle needs of the Ghanaian.

He stated that increasing access to banking services to youth, under-banked and unbanked, with cheaper and more convenient financial services was at the heart of Ecobank\'s strategy.

To access the service, subscribers need to dial *511# on their phone and generate a token for the withdrawal.

The token number is then used to withdraw the money at any Ecobank ATM in Ghana. Each token generated can only be used once.

MTN Mobile Money has more than two million customers.

The service can be accessed in all MTN branch offices, Ecobank and other partner bank branches and more than 8 000 other merchant points across the country.