MTN’s MoMo Pay Offers Affordable Digital Payment Solution for Small Businesses and Informal Vendors
MTN South Africa has officially launched MoMo Pay, a groundbreaking digital payment solution designed to empower informal traders and small business owners across the country. This new service operates under MTN’s established mobile money platform, MoMo, and aims to accelerate financial inclusion in underserved markets.
What Is MoMo Pay?
MoMo Pay is a user-friendly, secure, and affordable mobile payment system tailored for informal vendors, spaza shop owners, market traders, and township businesses. The solution allows merchants to accept instant digital payments via:
- QR code scanning
- Unique merchant ID
- Direct payment requests
With a low transaction fee of only 0.5%, MoMo Pay is one of the most cost-effective payment options available to micro and small enterprises in South Africa.
Why MoMo Pay Matters
The informal economy in South Africa accounts for a significant portion of daily commerce. However, many of these traders face barriers to adopting digital tools due to high fees and complex systems. MoMo Pay bridges this gap by offering a practical, scalable, and easy-to-use alternative.
Key benefits of MoMo Pay for informal traders include:
- Instant payments, eliminating the need for cash handling
- Low fees, maximizing profits for small-scale vendors
- Secure transactions, reducing the risk of theft or fraud
- Financial inclusion, by bringing unbanked and underbanked communities into the digital economy
MTN’s Commitment to Digital Financial Inclusion
With the introduction of MoMo Pay, MTN South Africa reaffirms its commitment to driving digital transformation and economic empowerment for marginalised communities. By enabling seamless mobile transactions, MTN is not only improving business efficiency but also contributing to the broader goal of a cashless economy.
“We believe MoMo Pay is a game changer for the informal sector,” said a spokesperson from MTN. “This platform provides an opportunity for traders to grow their businesses with the support of reliable, low-cost financial tools.”
How to Get Started with MoMo Pay
Merchants interested in signing up for MoMo Pay can do so via the MTN MoMo app or by visiting participating MTN service centres. The setup process is designed to be simple, allowing traders to start accepting payments within minutes.
