{"id":303948,"date":"2019-03-07T07:48:30","date_gmt":"2019-03-07T05:48:30","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=303948"},"modified":"2019-03-07T07:48:30","modified_gmt":"2019-03-07T05:48:30","slug":"mtn-to-relaunch-mobile-money-in-south-africa-later-this-year","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/303948\/mtn-to-relaunch-mobile-money-in-south-africa-later-this-year\/","title":{"rendered":"MTN to relaunch Mobile Money in South Africa later this year"},"content":{"rendered":"

MTN has confirmed that it will relaunch its Mobile Money (MoMo) service in South Africa.<\/p>\n

In the group’s financial results for the year ended December 2018 published on Thursday (7 March), MTN said that the launch of its Mobile Money offering in the coming months – alongside new media offerings – is expected to drive growth in digital revenue.<\/p>\n

MTN launched its mobile money platform in 2012 – attracting over 2 million customers.<\/p>\n

However, the company shut down the service in 2016 citing ‘\u00e7ommercial viability’.<\/p>\n

“The operating costs of providing a mobile money platform have become prohibitive. The decision by MTN SA to shelve its mobile money service does not signify an exit from financial services,” said MTN at the time.<\/p>\n

“MTN is committed to remaining a significant player in the financial services space.\u201d The network said it will introduce new financial services products in the near future.<\/p>\n

Despite the service’s original failure in South Africa it has been popular outside of the country and by year-end MTN had 27 million active MoMo users in 14 markets.<\/p>\n

\n

Read: Blue Label interims hit by Cell C losses<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

MTN has confirmed that it will relaunch its Mobile Money (MoMo) service in South Africa. <\/p>\n","protected":false},"author":10,"featured_media":209847,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[26,28],"class_list":["post-303948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-headline","tag-mtn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=303948"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303948\/revisions"}],"predecessor-version":[{"id":303968,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/303948\/revisions\/303968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/209847"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=303948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=303948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=303948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}