MTN MoMo Uganda introduces the Virtual Card by MoMo Mastercard

MTN MoMo Uganda introduces the Virtual Card by MoMo Mastercard

The Virtual Card by MoMo enables secure and seamless online transactions without a physical card or bank account

Launched in collaboration with Mastercard, Diamond Trust Bank and Network International, the virtual card simplifies everyday online transactions, enhancing the financial ecosystem for customers

 

Kampala, Uganda, 28 February 2025 - MTN Mobile Money (U) Limited, in partnership with Mastercard, Diamond Trust Bank and Network International, has launched the Virtual Card by MoMo, an innovative payment solution designed to enable MTN MoMo subscribers to perform secure online transactions without needing a physical card or bank account. This latest offering strengthens MTN’s commitment to driving financial inclusion and enhancing digital accessibility across Uganda, aligning with the company’s broader mission of enabling a digital economy for all.

Uganda has seen significant growth in digital financial services, with mobile money transactions reaching Shs 191 trillion in the 12 months to June 2023—a 23 percent increase from Shs 156 trillion in the same period in 2022, according to the Bank Of Uganda, The Virtual Card by MoMo allows users to make card-based online payments on any e-commerce platform, website, or social media channel that accepts card payments, offering a seamless and secure experience. Whether paying for school fees, boosting social media presence, shopping online, or booking travel, MTN MoMo subscribers can now enjoy the benefits of a Mastercard-powered virtual card through their MoMo Wallet.

Jemima Kariuki Njuguna, Chief Product Officer at MTN MoMo, said: "The Virtual Card by MoMo is a major milestone in our journey towards MTN's Ambition 2025, which focuses on promoting financial inclusion and economic empowerment across Africa. By offering a secure and convenient way to access online services, we enable our customers to engage more actively in the digital economy. This new product underscores our dedication to innovation and excellence in the digital financial sector."

Muhammad Nana, Senior Vice President, Digital Partnerships, Eastern Europe, Middle East, and Africa at Mastercard, commented: “At Mastercard, we are committed to driving financial inclusion by leveraging our technology to deliver innovative solutions that meet the unique needs of consumers across Africa. The launch of the Virtual Card by MoMo in Uganda marks a critical milestone in enabling broader access to the digital economy. With this collaboration, we are enabling millions of Ugandans to transact securely and conveniently, ultimately contributing to the nation's economic development.”

we are committed to driving financial inclusion by leveraging our technology to deliver innovative solutions that meet the unique needs of consumers across Africa. The launch of the Virtual Card by MoMo in Uganda marks a critical milestone in enabling broader access to the digital economy. With this collaboration, we are enabling millions of Ugandans to transact securely and conveniently, ultimately contributing to the nation's economic development.”

The Virtual Card by MoMo is designed to meet the needs of a diverse user base:

Students: Pay school fees or enroll in online courses on platforms like Coursera.

Small Business Owners: Enhance social media presence by paying for ads on platforms like Facebook, Instagram, and X (formally Twitter).

Entertainment Enthusiasts: Subscribe to popular music and video streaming services such as Spotify, Netflix, and Apple Music.

Online Shoppers: Access global e-commerce platforms like Amazon, eBay, and Alibaba.

Travelers: Book flights, hotels, car rentals, and other travel services on sites like Expedia, Booking. com, and Airbnb.

Local E-Commerce: Purchase food, groceries, and other goods from local vendors on platforms like Javas, Jumia, and Market by MoMo.

The Virtual Card by MoMo offers a simple and user-friendly application process. Customers can apply by dialing *165*70#, after which the card is automatically linked to their MoMo Wallet, enabling even those without a bank account to participate in the digital economy. Security is a top priority, with transactions safeguarded by the highest industry standards, minimizing the risks associated with physical card usage.

Additionally, users can benefit from enhanced financial flexibility, as they can top up only the amount needed for each transaction, giving them full control over their spending. The card also provides access to exclusive offers, such as potential rewards, partnerships, and discounts, including deals on air tickets.

For more information on how to get started with the Virtual Card by MoMo and its various use cases, visit the MTN MoMo website or contact customer service at +256771001000.

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