With the increasing pace at which mobile money is growing in terms of flexibility and transactions, there is no time for stopping or even slowing down. Dubbed the best innovation to come out of Africa in the 21st Century, Mobile Money has taken the continent by storm. These days, payment of bills is instant and very flexible, thanks to mobile phones and the mobile money technology.
After the shocking partnership of Crane Bank and MTN, Interswitch, a company that aims at simplifying inter transactions amongst its banking partners has now partnered with MTN. With mobile money, you can now withdraw your money from any Interswitch ATM across Uganda. The banks that partner with Interswitch include DFCU, Fina, Cairo International Bank, UBA, Global Trust Bank, Finance Trust, Orient, Imperial Bank and Opportunity Uganda. This for sure is going to cause exponential growth to the Mobile Money business and MTN has already welcomed that.
If you can recall properly, Interswitch first partnered with Airtel to do the same thing and all Airtel money users can testify. Now they have taken things to a whole new level and this is already exciting for mobile money users on MTN. I recieved a message this morning and was just thrilled at how far mobile money can integrate with the banking sector. This shall continue to be good news because mobile money is accessible nationwide and is very easy to use, unless one does not know how to operate a smartphone.