MTN, Amasezerano Bank deal will boost mobile banking, officials say

Efforts by the central bank aimed at encouraging the business community and the general public to embrace digital payment systems have received a timely shot in the arm, thanks to a new deal between MTN Rwanda and Amasezerano Community Bank. Under the partnership agreement, the bank’s customers will be able to deposit or withdraw money on their mobile phones using the telecom firm’s Push&Pull service. Froduald Munyankiko, the managing director Amasezerano Community Bank, said the partnership will help improve access to financial institution’s services besides providing convenience “as it can be operated anytime and in any place, where there is MTN Rwanda network”. He added that the service is faster, secure and offers simplicity in transactions. “The facility will also allow Amasezerano Bank customers to transfer (push) money from their MTN Mobile Money wallets to their bank accounts, or withdraw (pull) money from their bank accounts to their MTN Mobile Money accounts,” Munyankiko explained. “The idea is to make transactions more easy and convenient for our clients as the country moves toward a cashless economy,” he noted while signing the partnership agreement in Kigali last week. The partnership also shows how private companies are contributing to the government’s vision of promoting a cashless society. Arthur Rutagengwa, the MTN senior manager for mobile financial services, said the partnership between the two companies will ensure convenience and efficiency in terms of carrying out transactions. “The bank’s customers registered with MTN Mobile Money service will be able to deposit and withdraw cash electronically using the telecom firm’s Push&Pull service on their mobile devices,” Rutagengwa said. Recently, Norman Munyampundu, the MTN Rwanda chief business officer, told this publication that the telecom firm handles more than 1.3 million Mobile Money subscribers who make 12 million transactions monthly worth Rwf89 billion in value terms. The deal brings the number of banks that have embraced MTN’s Push&Pull platform to over 10. The facility handles over Rwf2.6 billion per month, according to the telecom firm. Tapping into innovation According to Roger Michel Kubwimana, the sales and marketing manager AD Finance, innovation and technology has been an important ingredient for all businesses around the global. “Therefore, it is imperative that financial institutions leverage technological innovations to stay relevant to customers,” he said. He added that banks will be able to serve customers better and at a low cost by embracing technology. “We are excited to partner with MTN Rwanda to enable customers to transfer, to pay bills quickly, easily and securely on their mobile phones using the telecom firm’s Push&Pull service,” he added. Last year, MTN Rwanda launched a new mobile money payment solution, the MTN Tap&Pay, which allows subscribers to make payments electronically. How to use the service Amasezerano Bank customers need to be MTN Mobile Money subscribers to use the service. Customers can dial *182# and follow the necessary steps to be able to enjoy the services on the platform.

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MTN, Amasezerano Bank deal will boost mobile banking, officials say