MTN Group Fintech and Paysky Launch Market by MoMo to Revolutionize E-Commerce in Uganda
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MTN Group Fintech, in partnership with Paysky, has officially launched Market by MoMo, a groundbreaking e-commerce platform designed to provide Ugandan merchants and consumers with a seamless online marketplace experience.
Market by MoMo offers a comprehensive solution for buying and selling a wide range of products, including electronics, groceries, fashion, beauty products, and more. The platform combines convenience, security, and reliability, with features such as fast deliveries and secure payments, making online shopping more accessible for Ugandans.
Driving Uganda’s Digital Economy
This transformative initiative is the result of a strategic collaboration between MTN Fintech and Paysky, a leading provider of digital payment solutions. Market by MoMo aims to empower merchants by expanding their market reach while enhancing the consumer shopping experience.
Waleed Sadek, Founder and CEO of Paysky, emphasized the company’s vision of democratizing digital financial services across the Middle East and Africa (MEA) region:
“Since our inception in 2017, Paysky has been committed to bringing secure, flexible, and reliable digital payment solutions to over half a billion citizens and two million businesses. Our collaboration with MTN to launch Market by MoMo is a natural extension of this mission, fostering financial inclusion and e-commerce innovation in Uganda.”
Paysky’s Role in Advancing Financial Inclusion
Paysky has been instrumental in enhancing financial inclusion across Africa, providing central banks in 10 countries with world-class digital financial services platforms. The launch of Market by MoMo aligns with this commitment, enabling local businesses to thrive in an increasingly connected digital economy.
“By providing seamless payment and e-commerce infrastructure, Paysky enhances the digital financial services ecosystem, allowing businesses to expand their reach and improve financial performance,” added Sadek.
Richard Yego, Managing Director & CEO of MTN Mobile Money Uganda, highlighted the significance of the initiative:
“We are committed to building a more equitable, connected, and empowered society. Market by MoMo is integral to our strategy of creating a brighter, more inclusive digital future for Africa by bringing consumers and businesses together in a seamless digital marketplace.”
Hesham Safwat, MTN Fintech Group Head of Fincommerce, emphasized the power of collaboration:
“This launch is a testament to the strength of partnerships. By working together, MTN Group Fintech and Paysky are delivering an integrated platform that connects Uganda’s merchants to millions of potential customers, empowering individuals and businesses alike.”
Expanding Across Africa
Following its launch in Uganda, Market by MoMo is set to expand across multiple African markets covered by MTN Group Fintech, bringing e-commerce and digital payment solutions to millions of users. This initiative will enable businesses to tap into new markets, providing consumers with secure, flexible, and seamless shopping experiences.
The partnership between MTN Group Fintech and Paysky is expected to drive digital financial inclusion, reshape the e-commerce landscape, and unlock new opportunities for merchants and consumers across Africa.
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