Mobile Money Rwanda Limited (MoMo Rwanda) has partnered with Mastercard to introduce the Virtual Card by MoMo, a groundbreaking solution enabling safe and secure global e-commerce payments for MoMo customers. This collaboration marks a significant milestone in advancing Rwanda’s digital payment ecosystem and promoting financial inclusion.
Unlocking Global Digital Commerce
The Virtual Card by MoMo Rwanda is designed to empower customers to make seamless online payments at any global outlet that accepts Mastercard. By integrating this solution into MoMo accounts, customers can shop internationally, pay for services, and enjoy a secure and convenient transaction experience. This initiative forms part of MTN Group’s broader strategic partnership with Mastercard, aimed at enhancing digital payments, cross-border transactions, and financial inclusion across 13 African countries.
Amnah Ajmal, Executive Vice President, Market Development EEMEA at Mastercard, highlighted the importance of the partnership:
“The combination of partnership and innovation enables us to bring greater possibilities to people and small businesses in Africa. These solutions provide more access, create more connections, generate confidence and grow the digital economy.”
Seamless and Secure Payment Experience
The Virtual Card is directly linked to a consumer’s MTN MoMo account and is compatible with any mobile phone. To ensure security, transactions require customers to enter their MoMo PIN before confirmation. Customers can easily create and manage their virtual cards via USSD by dialing *182*2*6# and following a simple step-by-step process.
This initiative also brings I&M Bank Rwanda on board as a technical partner, aligning with Rwanda’s agenda to build a cashless economy. Chantal Kagame, CEO of Mobile Money Rwanda Ltd, emphasized the transformative potential of the Virtual Card by MoMo:
“We believe our customers deserve the benefits of a modern, connected life. This virtual card will enable them to conveniently and securely shop online at their favorite international stores. Our collaboration with Mastercard, supported by I&M Bank, allows us to leverage world-class technology to ensure a seamless and secure customer experience.”
Benjamin Mutimura, CEO of I&M Bank (Rwanda) Plc, added:
“The Virtual Card by MoMo will transform the way Rwanda currently transacts and increase efficiency and prosperity for the Rwandan population.”
Driving Digital Transformation
The launch of the Virtual Card by MoMo underscores MTN Group’s commitment to expanding financial services and driving digital transformation across Africa. With over 5.1 million subscribers, 65,000 agents, and 420,000 merchants, MoMo Rwanda is already a leader in mobile money services. The introduction of the Virtual Card adds another layer of convenience and functionality for its customers.
In addition to supporting personal financial transactions, the Virtual Card is expected to encourage broader adoption of MoMoPay and other electronic payment methods, furthering Rwanda’s goal of a cashless economy.
How to Get the Virtual Card by MoMo Rwanda
To create a Virtual Card:
- Dial
*182*2*6#. - Confirm with your MoMo PIN.
- Select “Virtual Card by MoMo.”
- Choose “Create Card.”
- Accept the terms and conditions.
Once the card is created, customers will receive an SMS notification with confirmation. To access card details, dial *182*2*6# and select option 4, “View Card Details.”
A Step Towards a Digital Future
The Virtual Card by MoMo Rwanda is a testament to how strategic partnerships and innovative solutions can drive financial inclusion and digital transformation. By simplifying access to global e-commerce and providing a secure platform for online transactions, MoMo Rwanda, Mastercard, and I&M Bank are setting a benchmark for the future of payments in Africa.
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