Telecommunication operator MTN South Africa has entered a collaboration with Investec and Electrum to provide PayShap on its MTN Mobile Money (MoMo) platform.
As per the information detailed in the press release, MTN South Africa cooperated with Investec as its banking partner and Electrum as its technical partner to introduce PayShap, a real-time interbank digital payment service, on its MoMo platform. Through this, the companies intend to minimise the financial inclusion gap for the underbanked population in the region, as well as to deliver users an instant and cost-effective mobile payment system. At the time of the announcement, MoMo is one of the first non-banking participants to provide PayShap.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now