21/05/2024
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MTN MoMo Ready For NAPSA Payments  

Leading mobile financial services provider MTN Mobile Money has commended the  National Pension Scheme Authority (NAPSA) for including mobile money as one of the channels for payment of the NAPSA pre-retirement benefits. And Fintech has declared that it is ready to support payments and give customers a seamless experience.  

In a statement issued today, MTN Fintech Managing Director Komba Malukutila said his company has fully integrated with NAPSA to facilitate payments through MTN Mobile Money. 

“I am pleased to announce that our platform is ready, and we have put in place measures to support a seamless experience for both our partner NAPSA and our biggest shared stakeholder the beneficiary”, said Malukutila.  

He said among the measures are the increase in wallet limit for Mobile Money account holders on demand, robust agency model to support cash-outs from MTN agents, dedicated customer care support and KYC verification process so that beneficiaries can check their registration status and adjust where needed.  

“All our customer touchpoints are ready to support. We have about 90,000 agents and 350  outlets across the country, making us a big MFS provider with the widest footprint across the country. We are currently making sure that everyone within our system is aligned and that no beneficiary is left behind”, he said.  

And Malukutila has disclosed that MTN has also integrated with banks in Zambia to bank to MoMo wallet and MoMo wallet-to-bank transfers.  

“MoMo has integrated with almost all the banks. This makes it even more convenient and exciting for us. Beneficiaries who opt to be paid through the banks do not necessarily have to visit their bank branches. They can still access the money wherever they are. All you have to do is sign up  for mobile banking and you will be able to transfer money from the bank into your MTN Mobile  Money wallet.”  

Meanwhile, Mr Malukutila has advised mobile money users to be cautious and safeguard their mobile money accounts. He warned that scammers will be looking out for any chances to pounce.  

“The safest and most secure thing to do first is ensure that you do not share your mobile money  PIN. As a provider, we have secured our platform from our end, and we are asking our customers to also do the same. Avoid giving out PINs and approving transactions that you have not initiated.  Above all, report any suspicious activity on your account” he warned.  

NAPSA Director General Muyangwa Muyangwa announced that mobile money will be used as one of the channels to make pre-benefit payments (partial withdrawal). This follows the amendment and signing into law of the National Pension Scheme Authority Bill 2023 which will allow eligible  NAPSA members to withdraw 20% of their pension benefit.  

Source: MTN Zambia