MTN Mobile Money (U) Limited, in collaboration with Mastercard, Diamond Trust Bank, and Network International, has introduced the Virtual Card by MoMo—an innovative payment solution that empowers MTN MoMo subscribers to execute secure online transactions without requiring a physical card or bank account. This new service reinforces MTN’s commitment to driving financial inclusion and enhancing digital accessibility throughout Uganda, supporting the company’s broader mission of creating a digital economy for all.
Uganda has experienced notable growth in digital financial services, with mobile money transactions reaching Shs 191 trillion (GH¢805.2 billion) in the 12 months to June 2023—a 23 percent increase from Shs 156 trillion (GH¢657.7) during the same period in 2022, as reported by the Bank of Uganda. The Virtual Card by MoMo enables users to make card-based online payments on any e-commerce platform, website, or social media channel that accepts card payments, ensuring a seamless and secure experience. Whether it’s for paying school fees, boosting social media presence, shopping online, or booking travel, MTN MoMo subscribers can now enjoy the convenience of a Mastercard-powered virtual card linked directly to their MoMo Wallet.
“The Virtual Card by MoMo is a major milestone in our journey towards MTN’s Ambition 2025, which focuses on promoting “financial inclusion and economic empowerment across Africa. By offering a secure and convenient way to access online services, we enable our customers to engage more actively in the digital economy. This new product underscores our dedication to innovation and excellence in the digital financial sector,” said Jemima Kariuki Njuguna, Chief Product Officer, MTN MoMo
“At Mastercard, we are committed to driving financial inclusion by leveraging our technology to deliver innovative solutions that meet the unique needs of consumers across Africa. The launch of the Virtual Card by MoMo in Uganda marks a critical milestone in enabling broader access to the digital economy. With this collaboration, we are enabling millions of Ugandans to transact securely and conveniently, ultimately contributing to the nation’s economic development.” – Muhammad Nana, Senior Vice President, Digital Partnerships, Eastern Europe, Middle East, and Africa, Mastercard
The Virtual Card by MTN MoMo is designed to serve a diverse range of users, including;
Students: Who can pay school fees or enroll in online courses on platforms like Coursera.
Small Business Owners: Who can enhance their social media presence by paying for ads on platforms such as Facebook, Instagram, and X (formally Twitter).
Entertainment Enthusiasts: Who can subscribe to popular music and video streaming services like Spotify, Netflix, and Apple Music.
Online Shoppers: Who can access global e-commerce sites like Amazon, eBay, and Alibaba.
Travelers: Who can book flights, hotels, car rentals, and other travel services on sites such as Expedia, Booking.com, and Airbnb.
Local E-Commerce Users: Who can purchase food, groceries, and other goods from local vendors through platforms like Javas, Jumia, and Market by MoMo.
The application process for the Virtual Card by MoMo is simple and user-friendly. Customers can apply by dialing 16570#, after which the card is automatically linked to their MoMo Wallet, enabling even those without a bank account to participate in the digital economy. Security is paramount, with transactions protected by the highest industry standards to minimize the risks linked to physical card usage.
Additionally, users enjoy enhanced financial flexibility by topping up only the amount needed for each transaction, giving them complete control over their spending. The card also opens the door to exclusive offers, including potential rewards, partnerships, and discounts—such as special deals on air tickets.
