MTN has blocked more than 7,000 agents from transacting business on Mobile Money (MoMo) because they failed to comply with the new arrangement to request valid identity (ID) cards of customers.
The number blocked represents about three per cent of agents across the country who have been transacting business since last Friday when the new arrangement to ensure security on MTN MoMo went live.
A total of 250,000 agents made transactions since the new system was implemented.
The Chief Executive Officer (CEO) of MTN Mobile Money Limited, Mr Eli Hini, disclosed this last Tuesday during the second MTN Media Update on MoMo ID implementation.
He said although the three per cent, which translated into about 17,000 agents,were found not complying with the new arrangement, the number was a fraction of the overwhelming others who complied.
“This tells us that agents have generally welcomed the use of ID cards for MoMo transactions and are complying,” he said.
Mr Hini said MTN would continue to educate agents so that they would help in making the new arrangement successful.
The CEO of MTN Mobile Money Ltd said those sanctioned would have access to their wallets from last Tuesday to today (Thursday, April 15) to withdraw any balances on the wallets, to which they were entitled.
After that, they would be blocked again and engaged on the need to apply the new arrangement, Mr Hini said, explaining that within a month, those who were willing would be reactivated.
With the new system which started on Friday, April 2, this year, customers performing MoMo transactions are required to present valid ID cards before any MoMo cash-out (withdrawal) transaction can be processed.
The agents input the ID number as part of the process to authorise withdrawal. It is in line with regulatory requirement and also complements efforts being taken by MTN MoMo to curb MoMo fraud in the country.
The telecom giant has set up a backend system where it verifies the ID number before allowing the transaction to go through.
However, the vendor often cannot tell whether the holder of the wallet and the ID is the same person.