• Youtap and Lonestar Cell MTN launch Momo Pay for MTN customers in Liberia
• Aims to improve financial literacy with mobile payments by making It easier and safer to transact
• Will serve Lonestar Cell MTN’s existing 1 million Mobile Money customers
Singapore and Monrovia, Liberia – Mobile network operator Lonestar Cell MTN and Youtap have launched Momo Pay, a contactless mobile payment service for Lonestar Cell MTN Mobile Money users in Liberia.
Momo Pay enables Lonestar Cell MTN customers to ‘tap and pay’ for goods and services instantly and securely with their mobile phone at the point of sale. This move is aimed at making daily financial transactions comfortable and convenient as well as eliminating the risk associated with handling cash, such as theft, leakage and loss. This new service relies on near field communication (NFC) technology developed by Youtap, a global provider of contactless mobile payments and financial services software.
Speaking at the launch of the Tap and Pay service, Massa Mayson-Dennis, Head of Mobile Money – Lonestar Cell MTN, was excited about the launch of Momo Pay, saying “Lonestar Cell MTN made a promise to the Liberian people to provide world class digital financial services we are honouring that commitment with the launch of our newest service dubbed Momo Pay”.
She continued, “We chose to work with Youtap on this solution because they are a global provider of contactless mobile payment and financial services software, we want to leverage their experience and platform solutions to address some of the barriers hindering the adoption of the service”.
Shaun Morgan, VP Sales and Marketing – Africa for Youtap, was equally enthusiastic, saying, “We are excited about launching our Youtap Pay solution in another MTN market. Youtap is firmly committed to supporting Lonestar Cell MTN’s promise to provide world-class digital financial services in Liberia. This innovative service is a great step in helping to fulfil this promise”.
The Momo Pay service is being rolled out to a wide range of merchants such as supermarkets, pharmacies, petrol stations and all other payment acceptance points. Initially, the ‘tap and pay’ service will be powered by smart stickers attached to subscriber’s mobiles which utilize near field communication (NFC) technology. There are plans for the service to incorporate other methods of payment such as QR codes in the future.
Youtap headquartered in Singapore is a global provider of mobile payments processing and financial services software enabling mobile money and stored value wallet customers to tap and pay at any point of sale using any device. Youtap’s secure solutions support payment acceptance for contactless and non-contactless cards, NFC tags and wearables. Youtap supports merchants, banks, MNOs and payment service providers by incorporating loyalty programs and other responsive functionalities that benefit both consumers and merchants.