MTN Uganda has announced that there will be no charges on all mobile money transaction for the transfer of money from one person to another on all transactions below Shs 30,000 for a period of 30 days to reduce the likely transmission of Coronavirus through the handling of physical cash
KAMPALA — MTN Uganda has on Wednesday, March 18 waived fees on its mobile money transfer service for every transaction below UGX30,000 for the next 30 days.
Mr. Wim Vanhelleputte, the company’s Chief Executive Officer said this is to allow the customers to use cashless modes of payment as part of the measures to prevent the transmission of Covid-19.
The MTN CEO said all person-to-person transactions below UGX30,000 shall be free for the next 30 days.
Before the move, it cost between UGX800 and 1100 to transfer cash below UGX30,000 on MTN – MTN Uganda platforms.
He added that the decision to waive fees came after MTN held a meeting with Central Bank governor Tumusiime Mutebile and other industry players including banks to discuss the evolving situation around the coronavirus (Covid-19) pandemic.
“We propose to implement jointly with the Commercial Banks the following emergency tariffs from midnight Thursday 20th March 2020 and remain in place for a period of thirty days; there will be no charge for Peer to Peer (P2P) on-net transactions below UGX 30,000,” Vanhellaputte said.
Following the meeting, Bank of Uganda approved that there will be no charge for the wallet to bank (W2B) or bank to wallet (B2W) transactions.
Wim said this is the defendant on a partnership with the Commercial Banks to ensure transactions are zero-rated on both the subscriber wallet and bank account.
He also revealed that there will be no charge for all MoMo pay transactions for customers and merchants.
“We will continue to take whatever coordinated action is necessary to support and adopt further precautionary approaches and generation of insights to support national efforts,” Vanhellaputte noted.