The MTN Group announced on Thursday that MTN Nigeria’s fintech subsidiary, MoMo Payment Service Bank formally commenced operations.
MoMo PBS currently has an agent network of over 166,000 active agents and digitised partnership infrastructure. The company says that MoMo PSB will continue to scale its agent network in order to reach Nigerians and remove friction from everyday payment by digitising cash payments. Customers can access MoMo by dialing *671# on any network to send money to any phone number in Nigeria and pay their bills as well.
“This is an important milestone for Nigeria in our mission to support the government’s drive towards financial inclusion in Nigeria. Not just for those in urban centres and markets, but also people in rural and remote areas of the country who remain excluded from the financial system,” he said.
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