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    News in brief

    MTN ends Mobile Money in South Africa

    News in brief

    Mobile network operator MTN has discontinued its Mobile Money service in South Africa due to “lack of commercial viability” following its launch in 2012. “The operating costs of providing a mobile money platform have become prohibitive,” says Larry Annetts, chief consumer officer at MTN South Africa. “The decision by MTN SA to shelve its mobile money service does not signify a complete exit from financial services — we are exploring opportunities in the financial services space and other adjacent sectors.”

    Filed by Email Rian Boden Published • Last updated 20 September 2016, 13:34

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