Business24 Editorial: Mobile money directives in customers’ interest

Earlier this month, MTN Mobile Money made it mandatory for its customers to present an ID card in order to withdraw funds lodged in their wallets.

According to MTN, the directive is part of measures to address the growing incidence of fraudulent activities on its network.

The service which has more than 15 million active users has been fraught with fraud with many consumers demanding action from the service provider to keep them safe.

The company responded by introducing an additional layer of security that ensures that the details of persons undertaking cash-out transactions are captured in order to leave a trail that could help investigators should the need arise.

Apart from that, the company has gone ahead to introduce another step that will allow its agents to access a limited biodata of customers making a withdrawal in order to crosscheck with the ID cards presented and ensure they match.

Previously, agents were unable to access the details of persons who come in to withdraw money from their wallets.

This added feature received the blessing of the regulator which is keen on ensuring that the mobile money platforms are devoid of unscrupulous persons.

But just like any other innovation, the latest directive would not go without apprehension. Already, the latest update has created some discomfort for customers with agents also lamenting the loss of sales due to customers’ inability to present ID cards.

Indeed, these were expected but this paper would like to urge that customers especially must exercise some form of patience as this recent update is targeted at creating a robust system they can trust.

When everyone — agents and customers – complies with these directives rather than find a way around them, what we would have is a system with integrity that makes transactions safe for everyone.

That notwithstanding, MTN must pay attention closely to its customers for feedback regarding the implementation of these guidelines.