Singapore and Accra, Ghana – Youtap, a leading global digital financial services company, is proud to have played a pivotal role in connecting MTN and Barclays Bank in Ghana. MTN and Barclays Bank have teamed up to roll out an innovative service which will allow Ghanaians to purchase a wide range of products by simply linking their mobile wallets to Point of Sale systems.
The service expands MTN Ghana’s merchant footprint, giving it’s Mobile Money customers access to pay for goods and services in a way that was only previously available to the banked population of Ghana using debit and credit cards. Barclays Ghana’s network of merchants benefits from the higher volume of cashless mobile money transactions they can now accept on their POS terminals.
Youtap played a crucial role in the partnership, providing integration services using their Payment Processing and Digital Banking solutions to connect the two parties. Youtap were able to successfully allow MTN Mobile Money and Barclays Bank customers in Ghana to pay at Barclays Bank merchant terminals with just a mobile number.
“For MTN Ghana customers that have an NFC Tag, they can use this instead of entering their mobile number manually. This can be extended to QR code support in the future along with Agency banking through the merchant” said Youtap EVP Global Sales, Shaun Morgan.
Vimal Kumar, Managing Director and Chief Executive – Retail and Business Banking at Absa Group, was excited about the partnership with MTN and its prospects for both the short and long term across the continent.
“Barclays has today enabled its customers to pay on POS machines using their mobile wallet,” Kumar said in a statement. “In partnership with MTN, we have launched this capability in Ghana and are excited at the possibilities of linking into the mobile money ecosystem in Africa.”
“Youtap is excited to be able to facilitate this partnership between MTN and Barclays Bank,” said Youtap EVP Global Sales, Shaun Morgan. “Promoting further mobile money and payment usage in Ghana which is one of the fastest growing mobile money markets in Africa is a great outcome for not just the companies involved but also everyday Ghanaians.”
“This partnership reduces the investment required by MTN Ghana to acquire and support merchants, and for Barclays Ghana, gives them access to non-traditional bank customers to support growing their business to the underserved and financially excluded segment of the market.”
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