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17 December, at 06 : 57 AM Print
Rwanda’s giant telecom company MTN Rwanda has introduced another new and convenient payment solution called MTN Rahura that will enable its customers to borrow electricity (Cash Power) tokens and pay later using MTN Mobile Money.
This is MTN’s latest foray into financial services as part of the company’s diversification strategy which has seen the mobile money platform grow to over 3.5 million mobile money subscribers since the service was introduced in 2010.
The service has been introduced to facilitate subscribers that may have run out of electricity units at an opportune time and are not in position to buy due to lack of funds or a cash power vending point being inconveniently far.
“This soft loan facility will see MTN Mobile Money customers get advance credit to buy electricity tokens and repay the debt later.” said Gunter Engling, the CEO of MTN Rwanda.
The service is usable for subscribers who have been on the MTN network for a minimum period of 3 months with an active MTN Mobile Money account.
Only registered MTN Mobile Money users will be required to dial *151# from their mobile phones, and click on option 2 and follow the prompts in order to make a valid purchase on the phone.
The amount borrowed and the service charge will be recovered during the next Mobile Money account refill.
“We aim to provide the highest levels of service to our customers by bringing unprecedented convenience through mobile payment solutions,” Engling added.
The borrowing service has been limited to airtime (credit top-up) a service which is available on the other telecoms companies operating in Rwanda, such as Airtel and Tigo Rwanda.