MTN Group Fintech in collaboration with Paysky on Wednesday launched Market by MoMo, an e-commerce platform designed to give Ugandan business owners and customers a hassle-free digital market experience.
Market by MoMo is a one-stop shop for purchasing and selling a variety of goods, such as electronics, groceries, clothing, cosmetics, and more, is provided by Market by MoMo.
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Market by MoMo offerings
This cutting-edge platform offers advantages like safe payment and quick delivery along with convenience, dependability, and flexibility.
Paysky, a prominent supplier of digital payment solutions, worked together with MTN Fintech to co-create this revolutionary platform.
A major step forward for Uganda’s digital economy, Market by MoMo cultivates a vibrant relationship that enables merchants to expand their reach and enhance the purchasing experience for customers.
Paysky’s founder and CEO, Waleed Sadek, highlighted the company’s mission to use innovative payment infrastructure to empower people and businesses in the Middle East and Africa (MEA) region.
He said, “Since our inception in 2017, Paysky has been committed to democratizing digital financial services and so far has achieved that for over half a billion citizens and two million businesses. Our collaboration with MTN to launch Market by MoMo is a natural extension of this mission, bringing secure, flexible, and reliable payment solutions to Uganda.”
Paysky’s significant role in promoting financial inclusion in Africa
Paysky has played a significant role in promoting financial inclusion throughout the African continent by offering top-notch digital financial services platforms to central banks in ten nations.
Because of this dedication to innovation and inclusivity, national initiatives to expand access to digital financial services have gained momentum.
By launching Market by MoMo, Paysky is enabling small companies to prosper in a world that is becoming more interconnected while also fostering the development of digital ecosystems.
“By providing a seamless payment and e-commerce infrastructure, Paysky advances digital financial service value chain and enables the smooth operation of e-commerce platforms like Market by MoMo, allowing businesses to expand their reach and improve their financial performance,” said Sadek.
MTN Mobile Money Uganda’s Managing Director and CEO, Richard Yego, discussed the importance of this initiative, saying, “We are committed to building a more equitable, connected, and empowered society. Market by MoMo is an integral part of our strategy to create a brighter and more inclusive digital future for Africa, bringing together consumers and businesses in a seamless digital marketplace.”
Hesham Safwat, Head of Fincommerce at MTN Fintech Group, emphasised the value of teamwork in bringing this goal to life, saying, “This launch is a testament to the power of partnerships. By working together, MTN Group Fintech and Paysky are delivering an integrated platform that connects Uganda’s Merchants to millions of potential customers, empowering individuals and businesses alike.”
Future expansion plans
In addition to the successful launch of Market by MoMo in Uganda, Paysky and MTN Group Fintech are working together to launch Market by Momo in many of the countries that MTN Group Fintech serves.
Over 100 million users across Africa will benefit from the project, expected to open up new markets for businesses and give customers access to a vast array of goods with easy, safe, and adaptable payment methods.
By transforming the region’s e-commerce scene and promoting digital financial inclusion, the partnership between MTN Group Fintech and Paysky hopes to open up new doors for both customers and retailers.