MTN MoMo Limited Engages Stakeholders2 min read

MobileMoney Limited (MTN MoMo), as part of activities to commemorate this year’s MobileMoney Month, has organized a stakeholder forum in Accra on the theme, “Addressing the Barriers to Digital Payment Adoption in Ghana.”

Addressing participants at the forum, Head of Products and Services at MobileMoney Limited, Sylvia Otuo Acheampong, said, “We have made significant progress in technological advancement and digital adoption over the years, however, there is still more to be done.

One of the important things for us as industry leaders is to lead conversations within the mobile financial services industry and digital payments sector to spur growth”.

Head of Fintech and Innovation at the Bank of Ghana, Kwame Oppong, underscored the Central Bank’s role in spearheading digitization in the banking sector over the years. He reiterated the Central Bank’s commitment to finding solutions for addressing barriers that impede digital payments adoption in Ghana as the country works towards building a cash-lite economy.

CEO of Ghana Interbank Payments, and Settlement System (GhIPPS), Archie Hesse, highlighted the strides Ghana has made over the years towards digital innovation and adoption. He commended MTN for organizing such an initiative and called for more collaboration and partnership among the stakeholders.

In his submission, Eric Kotey, CEO of Cellulant Ghana observed that Ghana had made significant strides in adopting digital payment solutions. He identified the barriers to adoption as fraud and limited accessibility. He advised Mobile Network Operators to implement strict security measures, enhance education, and address smart phone penetration issues.

He also admonished Fintech companies to create user-friendly interfaces, and offline products, and undertake awareness campaigns, and incentives, amongst others. ‘When all these are taken into consideration, it would drive adoption’, he concluded.

Winifred Kotin, CEO of Eagle Innovations, called for innovative, collaborative, and effective ways of designing effective educational strategies and executing them in a way that will meet the needs of the various categories of consumers to make progress.

She said, “easy to relate tools and mediums to help the general public appreciate digital payments adoption, mass education, community-based education, interactive workshops and demos, role-playing and storytelling, multisectoral approach to education, collaborations, and partnerships, and other value-added services can help to boost digital payments adoption across the country.”