Transaction limits have stayed the same, with minimum account balance at 0 and the minimum transaction limit at Shs500.
The maximum account balance remains Shs5, 000,000 and the maximum daily transaction limit remains Shs4, 000,000.
MTN Uganda launched their Mobile Money service in early 2009 and has in the last four years made significant changes to how Ugandans are transacting in the New World, through paying for goods and services as well as sending and receiving money from and to anywhere in the country as well as Internationally.
“MTN strives to constantly improve our service delivery to our customers. Our New tariffs are guided by our understanding that we need to constantly improve and sustain the robustness and availability of our MTN Mobile Money services across the country,” said Ernst Fonternel, MTN Uganda Chief Marketing Officer.
Fonternel explained that the increase in tariffs is meant to enable the telecom company to improve service delivery to their customers, in line with the current market and economic dynamics in Uganda.
“While the cumulative inflation since early 2009 to date is well in excess of 50%, MTN has never adjusted its tariffs to cater for inflationary and/or other economic pressures. We are adjusting our tariffs slightly, relative to the benefits associated with Mobile Money to ensure we have a sustainable business model for the future,” Fonternel said.
The new rates which took effect May 8 2013 will affect sending money to both registered and non-registered Mobile Money users, withdrawing Money from an MTN Mobile Money agent, paying bills using the MTN Mobile Money Pay Bill service, paying bills using the MTN Mobile Money Goods and Services menu and Sending Bulk Mobile Money payments.
“The increase in tariffs will facilitate an increase in our Agent Network commissions to ensure that our agents get better rewards on high value transactions and as an incentive to hold adequate float to ensure that customers have the best distribution network available. The change in tariffs ensures that we can continue to invest into our platform bringing new innovative and relevant services to Uganda while expanding our extensive distribution network,” added Fonternel.
Fonternel explained that despite the changes, some tariffs will not be affected. “You can still buy airtime and buy Mobile Money (Deposit) free of charge. Also Registering for Mobile Money, checking your account balance and changing your PIN number are still free of charge.”
Since the product was first launched four years ago, MTN Mobile Money has grown significantly with monthly transactions now in excess of 27 million with a Mobile Money Base of more than 4 million customers.
It has also grown from a basic service enabling sending and receiving money, and buying airtime, to a convenient service that enables a lot more, such as paying school fees, trade and commerce, bill payments, and a host of other payments.
Below Are The New Tariffs