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   MTN MobileMoney
Created Date: 9/28/2009 4:47:33 PM
Country: South Africa
Status: In use
License: Proprietary
Product Type: Software - Mobile
Target Users: MTN MobileMoney is aimed at both banked and unbanked, primarily younger South Africans.
Developer Name: MTN-SA (South Africa)
Product Url: http://www.mtnbanking.co.za/site/MTNBanking/index2
System Requirements: In order to open a MTN MobileMoney account, users need to buy a 32k SIM card which is required to operate the service from a mobile phone.
Description: A MTN MobileMoney account is a transactional bank account aimed at both banked and unbanked South Africans, primarily younger South Africans who expect low-cost, no-hassle service from their bank. A MTN MobileMoney account enables customers to send money to and receive money from relatives, pay for goods and services, check balances and settle utility bills. There are no monthly service fees and no minimum balance. All banking transaction SMSs are free while free SMS notifications are sent to clients on changes to the balance. All customer-initiated transactions (e.g. card and/or ATM transactions) are notified in real-time, irrespective of the day and time.

Opening of a MTN MobileMoney account takes place remotely through an interactive process during which voice recordings are taken as biometric identifiers and the MTN MobileMoney menu is downloaded over the air to a 32k SIM card. Customers receive free MobileMoney CashCards enabling them to deposit and withdraw money at Standard Bank AutoBank machine and branch. The MobileMoney CashCard can be replaced with a MobileMoney MasterCard enabling customers to deposit cash or cheques at any Standard Bank AutoBank machine or branch, withdraw cash at any ATM in South Africa, and perform POS transactions.

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