MTN’s latest decision to rescind on its earlier directive is in response to significant customer backlash following the company’s SMS circular outlining the revised fee structure.
MTN, who is a market leader in Ghana’s telecom space communicated to customers that it will increase the fee or charge for cash-out transactions over GHS1,000. The telco in a communique opined that however, all transactions up to GHS1,000 will continue to attract a 1% fee.
Notably, the revised fee structure meant that cash-out transactions ranging from GHS1,000 to GHS2,000 would no longer be subject to a maximum fee of GHS10.
But following the strong negative response from customers after the announcement, MTN has now reversed its decision. The company has announced that the cash-out fee will continue to be set at 1%. Consequently, customers will not experience an increase in fees for their MoMo transactions.
MTN rescinds decision to increase MoMo cash-out fee after public backlash
In addition to maintaining the existing fee structure, MTN has cautioned customers against paying any additional charges beyond the 1% fee. The telco giant’s message serves as a reminder to customers to be vigilant and ensure that they are not subjected to any unauthorized or inflated fees when conducting MoMo cash-out transactions.
MTN’s decision to reverse the fee increase reflects the company’s responsiveness to customer concerns and underscores its commitment to maintaining a fair and transparent pricing structure.
As the mobile money ecosystem continues to play a vital role in Ghana’s financial landscape, MTN’s assurance that the cash-out fee will remain at 1% provides customers with clarity and reassurance.
The new directive from MTN Ghana means, customers will continue to enjoy the convenience of MoMo transactions without incurring higher charges.