David Nana Addai, Mobile Money (MoMo) Channel Development Manager for the Northern Sector of MTN Ghana,

Ghanaians have been encouraged to embrace cashless transactions as a convenient, secure and efficient way of conducting business and managing their finances.

David Nana Addai, Mobile Money (MoMo) Channel Development Manager for the Northern Sector of MTN Ghana, said the increasing adoption of digital payment platforms could help address several challenges associated with the use of physical cash while creating opportunities for businesses and individuals.

He said going cashless had become an important part of modern business, particularly as mobile money allowed people to send and receive funds, pay for goods and services and conduct transactions across geographical boundaries without having to physically carry cash.

Speaking on the sidelines of a MoMoFest event held in Berekum in the Bono Region last Saturday evening, Mr Addai said the printing and circulation of physical money often created challenges for businesses, particularly when vendors had difficulty providing change to customers.

“Today, as a business, we are talking about going cashless. As part of MoMoFest, we are bringing businesses together to promote the concept of going cashless,” he said.

He noted that with mobile money, people could conduct business from the comfort of their homes, eliminating the need to travel with large amounts of cash or visit banks to deposit money.

According to him, the convenience of digital transactions also meant that businesses could serve customers beyond their immediate geographical locations, thereby expanding their markets and making commerce more accessible.

MoMo convenience
Mr Addai said the MoMo app offered customers a convenient platform for sending and receiving money locally and internationally, purchasing airtime and paying utility bills without visiting physical locations.

He added that the platform also provided access to a range of financial services, including short-term loans, savings and investment management, directly through users’ mobile phones.

The app, he said, also offered enhanced security features, including biometric authentication such as fingerprint and facial recognition, alongside the traditional PIN system.

“These are some of the things in MoMo that we want people to know about and take advantage of, some for our customers and others for businesses,” he said.

Vigilance against fraud
Mr Addai, however, acknowledged that the growing use of digital financial services had also attracted fraudsters, warning customers to remain vigilant in protecting their accounts.

He said fraudsters usually targeted platforms where money was being transacted and stressed the need for a collective effort by service providers, customers and other stakeholders to combat mobile money fraud.

He explained that in most cases, customers’ accounts could only be compromised when they disclosed sensitive information, particularly their PINs, or allowed other people access to their phones.

He therefore advised customers never to disclose their MoMo PINs or hand over their phones to others to conduct transactions on their behalf.

He urged users to observe what he described as the three golden rules of mobile money security: never share one’s PIN with anyone; disregard calls purportedly from MTN unless they come through the official number 0244300000; and never approve a transaction that one did not initiate.

MoMoFest
Mr Addai also explained that MoMoFest, which is being organised across various regions, was aimed at combining entertainment with education and development while bringing MTN’s services closer to customers.

He said one of the entry requirements for the concert was for participants to download the MoMo app, giving the company an opportunity to educate customers on its features and benefits.

The event attracted large crowds, with popular Ghanaian musician Kweku Smoke providing entertainment. Residents defied heavy rainfall lasting more than an hour to participate in the event.

As part of MTN’s collaboration with Kweku Smoke, donations were also made to selected orphanages and hospitals, while health walks were being organised as part of the broader initiative.

Mr Addai said the activities were intended not only to entertain the public but also to promote financial inclusion, digital transactions and the broader transition towards a cashless economy.

“We bring entertainment, we bring a lot of things, all in a bid to bring development to the people and propagate the message of MoMo,” he said.

He stressed that the growing digital economy offered individuals and businesses the opportunity to transact seamlessly without relying heavily on physical cash.

“Right from the comfort of your home, you can engage in or transact business,” he added.