{"id":45868,"date":"2013-09-12T17:28:34","date_gmt":"2013-09-12T15:28:34","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=45868"},"modified":"2013-09-13T09:22:40","modified_gmt":"2013-09-13T07:22:40","slug":"mtn-touts-mobile-money-landmark","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/45868\/mtn-touts-mobile-money-landmark\/","title":{"rendered":"MTN touts Mobile Money landmark"},"content":{"rendered":"

Mobile Money, MTN<\/a>‘s mobile phone-based bank account service, has opened more than one million accounts and processed more than R1 billion in transactions since launching nine months ago.<\/p>\n

Mobile Money is operated by TYME, a distribution partner of the South African Bank of Athens<\/a>.<\/p>\n

While users can access their accounts through USSD and deposit and withdraw cash at Pick n Pay and Boxer stores, they can also instantly transfer money to another money number using the \u201csend money\u201d feature.<\/p>\n

The service is network agnostic, enabling customers on any mobile network to open an account.<\/p>\n

Mobile Money fees are only related to customer transactions: cash deposits and withdrawals cost R4 regardless of the amount, while sending money transactions costs R1.<\/p>\n

MTN said that some fees are waived for its own customers, including cash deposit and sending money fees.<\/p>\n

However, a maximum balance of R25,000 and a daily transaction limit of R1,000 are specified for the account.<\/p>\n

\u201cOf the current Mobile Money base, 44% of customers have performed a transaction in the last 90 days, representing a significant advantage over the GSMA\u2019s reported industry benchmark of only 22%,\u201d said TYME\u2019s Coenraad Jonker.<\/p>\n

\u201cAs we continue to develop new product features, we expect the activity rate to improve even further.\u201d<\/p>\n

More news on MTN<\/h3>\n

MTN eyes mobile money growth<\/strong><\/a><\/p>\n

New mobile-only bank to launch in SA?<\/strong><\/a><\/p>\n

MTN launches low-cost banking solution<\/strong><\/a><\/p>\n

MTN revisits mobile money space<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MTN Mobile Money, a cell phone-based bank account service, has opened more than one million accounts in its first nine months of operations.<\/p>\n","protected":false},"author":10,"featured_media":11559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[6655,26,28,4067,6654],"class_list":["post-45868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-boxer","tag-headline","tag-mtn","tag-pick-n-pay","tag-tyme"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/45868","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=45868"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/45868\/revisions"}],"predecessor-version":[{"id":45886,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/45868\/revisions\/45886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/11559"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=45868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=45868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=45868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}