KAMPALA, Uganda — MTN Mobile Money Uganda launched a virtual card Thursday, enabling subscribers to make secure online transactions without a physical card or bank account.
The Virtual Card by MoMo, developed in partnership with Mastercard, Diamond Trust Bank and Network International, aligns with MTN’s mission to drive financial inclusion and digital accessibility across Uganda.
Uganda has seen significant growth in digital financial services, with mobile money transactions reaching 191 trillion shillings in the 12 months to June 2023, a 23% increase from the same period in 2022, according to the Bank of Uganda.
The virtual card allows users to make card-based online payments on e-commerce platforms, websites and social media channels that accept card payments.
Jemima Kariuki Njuguna, Chief Product Officer at MTN MoMo, said the virtual card is a major milestone in promoting financial inclusion and economic empowerment across Africa.
Muhammad Nana, Senior Vice President, Digital Partnerships at Mastercard, said the launch marks a critical milestone in enabling broader access to the digital economy.
The virtual card is designed to meet the needs of various us ers, including students, small business owners and online shoppers. It offers a simple application process and provides access to exclusive offers and rewards.
For more information, visit the MTN MoMo website or contact customer service.
