MTN Nigeria waives charges on mobile money

Ife Ogunfuwa

A subsidiary of MTN Nigeria, Y’ello Digital Financial Services, has waived user fees for Cash2Cash – a local money transfer service offered by its MoMo Agent Network in response to the escalating global pandemic.

A statement issued by the company on Monday stated that the waiver, which took effect immediately, would enable people without a bank account to send and receive money across the country at no extra cost for the next four weeks.

During this time, the company said all cash transfer fees would be absorbed by the YDFS as one of several new measures the company was introducing to support Nigerians as cases of COVID-19 continue to rise around the world.

Commenting on this, the Chief Executive Officer, Y’ello Digital Financial Services, Usoro, Usoro stated, “The events surrounding COVID-19 are unprecedented and will undoubtedly disrupt daily life and pose a myriad of challenges to people and business alike. With the Y’ello hope package, we are working to introduce measures that support our customers and communities, through this difficult time. Free Cash2Cash allows users to continue to make money transfers, safely to help their loved ones meet financial obligations without fretting about the charges.”

Also, the management of the company in Rwanda announced a waiver in the costs of mobile money transactions to allow customers to use cashless modes of payment as part of measures to prevent the transmission of the coronavirus .

All transactions would be free for 90 days to avoid cash handling in stores, supermarkets and pharmacies, Nextv News Africa reported.

“MTN stands in solidarity with the nation during this trying time while supporting the government’s efforts to communicate and raise awareness on precautionary measures to prevent and contain the spread of the virus,” MTN Rwanda Chief Executive Officer, Mitwa Ng’ambi, said.

MTN announced that it would also waive fees on sending money on all transactions from banks to MoMo wallets and vice versa.

“We understand that customers will be constrained, therefore we are exploring ways to keep them connected,” Ng’ambi said.