MTN Uganda has for the past few weeks proved to be the best telecommunications company to beat in yet another competitive year. From awarding the Momo API challenge winners to promoting health in Uganda and unveiling an affordable feature phone to the public. The Yello camp will surely bury all its earlier faults that saw its CEO and CMO deported from the country.
Although Government levied a 1% tax on mobile money transactions that was later revised to 0.5%. It is still the most reliable mobile finance service headed by MTN’s offer and followed by Airtel money in the same corner with solid spotlight pikes to the rate of financial inclusion in Uganda
As a fact, MTN Mobile money rates keep changing year to year and we’re not surprised that MTN has yet again unveiled new rates for 2019. However, the camp has altered rates for all transaction tiers meaning the old charges are now dressed with new incremented looks.
Additionally, new rates for utility payments have been listed with a fair balance as compared to the 2018 rates. Nonetheless, these are the new MTN mobile money rates that you will have to face as soon as the 10th May 2019 sunrise pops up.
| Rates (UGX) | Sending Money | Withdraw Cash | Making Payments | |||||
|---|---|---|---|---|---|---|---|---|
| Min | Max | To MTN | To Other Networks | From Agent | From ATM | To StarTimes, Azam Tv,Ready Pay, Solar Now | To UMEME, NWSC,Dstv,NSSF, Multiplex | |
| 500 | 2500 | 100 | 300 | 350 | 110 | 190 | ||
| 2501 | 5000 | 300 | 600 | 480 | 150 | 600 | ||
| 5001 | 15000 | 900 | 1200 | 770 | 550 | 1000 | ||
| 15001 | 30000 | 1000 | 1500 | 970 | 1150 | 650 | 1600 | |
| 30001 | 45000 | 1100 | 1500 | 1350 | 1150 | 750 | 2100 | |
| 45001 | 60000 | 1100 | 1500 | 1650 | 1150 | 850 | 2800 | |
| 60001 | 125000 | 1650 | 2500 | 2150 | 1400 | 950 | 3700 | |
| 125001 | 250000 | 1650 | 3500 | 3950 | 1400 | 1050 | 4150 | |
| 250001 | 500000 | 1650 | 7000 | 7750 | 2150 | 1300 | 5300 | |
| 500001 | 1000000 | 2200 | 10000 | 13750 | 3900 | 3350 | 6300 | |
| 1000001 | 2000000 | 2200 | 17000 | 21750 | 6650 | 5750 | 6300 | |
| 2000001 | 4000000 | 2200 | 27000 | 38650 | 11950 | 5750 | 6300 | |
| 4000001 | 7000000 | 2200 | 40000 | 52500 | 11950 | 5750 | 6300 |
The Impact of MTN’s new Mobile Money rates
The same way Airtel is working on a Momo pay like service and Africell spicing up its version of mobile money is the same these competing telcos will pick a leaf from the new MTN rates and implement the same squeeze per transaction tier.
However much the new MTN mobile money rates seem to be centered to its subscribers alone. We shall not be surprised if the Airtel Money features the same rates in the next quarter. Furthermore, the utility payment rates appear bullish and digital payments like Payway are set to conquer a lions’ share as an alternative to using the Momo route.
So, the same way mobile money tax scared many subscribers from sending and receiving money on phone, it’s the same way transactions might bezel down to the pressure of high rates. Henceforth, as we are yet to see another service like Africell money revising its rates, we expect to see at least a reduction in the next quarter to make mobile money the perfect financial inclusion driver than ever before.