Mobile Money Rwanda Limited (MoMo Rwanda) has partnered with Mastercard to introduce the Virtual Card by MoMo, a groundbreaking payment solution that enables secure e-commerce payments globally. This innovative service allows MoMo customers to shop and pay at any outlet accepting Mastercard, addressing the increasing demand for digital payment options and cross-border transactions.
The initiative is part of a broader partnership between MTN Group and Mastercard, aimed at expanding digital payment solutions across 13 African countries. In Rwanda, I&M Bank provides technical support for the project, aligning with the nation’s cashless economy agenda by promoting electronic payment methods such as MoMoPay.
Leaders in Digital Innovation
Chantal Kagame, CEO of MoMo Rwanda Ltd, emphasized the company’s commitment to enhancing customer experiences through innovative solutions. “This virtual card will enable our customers to securely shop online and enjoy the benefits of a connected life. It’s the first of many solutions we aim to deliver in collaboration with Mastercard and I&M Bank,” Kagame stated.
Benjamin Mutimura, CEO of I&M Bank (Rwanda) Plc, highlighted the transformative impact of the Virtual Card by MoMo. “The Virtual Card by MoMo will revolutionize transactions in Rwanda, fostering efficiency and prosperity while supporting the move towards a cashless economy,” he said.
Seamless and Secure Payments
The Virtual Card by MoMo is directly linked to a customer’s MTN MoMo account and can be accessed on any mobile phone. Users manage their payments securely by entering their PIN to confirm transactions. The process to create the card is simple:
- Dial *182*2*6# on your mobile phone.
- Confirm with your MoMo PIN.
- Select “Virtual Card by MoMo.”
- Choose “Create card” and accept the terms and conditions.
Upon successful creation, users receive an SMS confirmation and can view their card details using the same code.
Advancing Financial Inclusion
This initiative solidifies Rwanda’s position as a leader in digital payment solutions, empowering individuals and small businesses to participate in the global digital economy. By promoting financial inclusion, the Virtual Card by MoMo supports the nation’s efforts to achieve sustainable economic development.
With its combination of convenience, security, and accessibility, the Virtual Card by MoMo is set to transform the way Rwandans transact and interact with the digital world.
