By Edward Byamukama
The business community in Hoima City is expressing optimism following the launch of the MTN MoMo Advance service in their area. This service, provided by MTN Uganda is an overdraft facility that enables MTN MoMo customers to complete transactions even with insufficient funds in their account.
MTN Uganda has activated the MoMo Advance, a service that will help its customers to transact business even in times of financial emergencies.
Julius Ariko the Manager MTN Uganda in charge of Hoima District, says MoMo Advance is a service offered to qualifying MTN Mobile Money customers to complete their transactions when they have insufficient funds in their MTN Mobile Money wallet.
He says the MoMo Advance service addresses the issue of insufficient funds during transactions as customers are able to get a top up for sending money, buy goods and services, as well as pay bills.
He adds that, one only needs to opt-in once after reading and accepting the terms and conditions adding that the service will be available until one opts out of it.
Furthermore, he adds that MoMo advance is a unique service that enables one to access financial support even if they have a debt on other loan services like Mopesa, Mokash among others.
“Unlike traditional term loans, MoMo Advance is accessible to all MTN MoMo users, providing instant, need-based top-ups that eliminate failed transactions due to insufficient balances” Ariko said.
John Mary Byamukama, a dealer in second-hand shoes in Hoima Hardware Market has expressed joy for the introduction of the MoMo Advance service saying many as a businessman, he sometimes gets puzzled with not enough cash yet he needs to transact businesses expressing optimism that service will offer great financial relief.
Customers can activate MoMo Advance by dialing *165*5# or accessing the “Loans” feature on the MTN MoMo app.
