MTN Increases Senkyu Points on MoMo Withdrawals & makes sending money free on the MoMo app

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Stephen Mutana the Acting CEO of MTN Uganda Mobile Money Limited

 ·         MTN Uganda has increased Senkyu points for withdrawing mobile money at agent location to 15 points for every UGX 100 charged in withdrawal fees.

·         During this promotion, MTN MoMo customers will be able to send money to other MoMo customers for free when they use the MTN MoMo app.

·         The MTN MoMo offer promotion which takes effect on 15th November will last two months.

 

Monday 15th November 2021: Kampala-Uganda: MTN Mobile Money Ltd has increased the number of Senkyu points a customer gets to 15 points for every UGX 100 charged in MoMo withdrawal fees. The points are given on the withdrawal fees that the customer is charged i.e., for every 100/- a customer is charged they receive 15 Senkyu points.

In addition, sending money between MTN MoMo customers on the MTN MoMo app has been made free, during the promotion that will go on till early 2022.

MTN Senkyu is a customer loyalty initiative aimed at rewarding customers who use MTN services. Once a customer dial *141# and joins the Senkyu program, they start receiving points for using MTN services including loading airtime and bundles, making calls, sending messages, using data and MTN MoMo services such as sending money, making payments, depositing, and withdrawing at a mobile money agent. 

While making the announcement, Stephen Mutana, the Ag. Chief Executive Officer MTN Mobile Money Uganda Limited said the promotion’s objective MTN is to reward its customers who ardently use its services.

“As we draw closer to the end of the year, we want to recognize and appreciate our customers who have continuously used MTN services. That is why we want to reward them with loyalty points that can be used to enjoy more of those services,” Mutana explained.

Mutana said the decision is informed by the increased person to person transactions over the last two years.

According to recent statistics from Bank of Uganda, person to person transaction values have grown from UGX1.1trillion in January 2021 to UGX1.4 trillion in June 2021.

He further explained that the promotional offer serves to drive affordability of cashless transactions with the aim of boosting financial inclusion across the country.

“We at MTN believe that through initiatives such as this one, we can increase financial inclusion which is necessary because each and every single person deserves access to mobile financial services,” he noted.

Mobile money is currently the biggest contributor to financial inclusion in the country, standing at 78% according to the Finscope survey of 2018.

This promotion is yet another effort by MTN to drive affordability of mobile financial services for its customers following a reduction in withdrawal rates earlier in May this year.

The new MTN Senkyu points on MoMo withdrawals are below.

Amount (UGX)

Withdrawing Fees from Agent (UGX)

Current Senkyu Points

New Senkyu Points

500 – 2,500

330

6

45

2,501 – 5,000

440

8

60

5,001 – 15,000

700

14

105

15,001 – 30,000

880

16

120

30,001 – 45,000

1,210

24

180

45,001 – 60,000

1,500

30

225

60,001 – 125,000

1,925

38

285

125,001 – 250,000

3,575

70

525

250,001 – 500,000

7,000

140

1,050

500,001 – 1,000,000

12,500

150

1,875

1,000,001 – 2,000,000

15,000

300

2,250

2,000,001 – 4,000,000

18,000

360

2,700

4,000,001 – 7,000,000

20,000

400

3,000

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