MTN has announced a collaboration with Africa’s leading independent banking group, Ecobank enabling both companies to leverage each other’s mobile money and banking assets.
The companies announced in Lagos that they would work together to deliver a distinct customer experience by allowing access to affordable financial services via MTN Mobile Money and Ecobank banking services.The partnership would enable bank-to-MTN Mobile Money wallet, wallet-to-bank transfers as well as cardless ATM withdrawal for MTN Mobile Money users within Africa using the rapid transfer platform.
According to MTN and Ecobank, the partnership will also provide savings accounts and lending solutions to MTN Mobile Money users. On the distribution side MTN Mobile Money agents would be able to create and redeem e-money through Ecobank branches, while Ecobank merchants can also accept payments from MTN Mobile Money users.
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