• MTN Mobile Money Zambia partnered with Indo Zambia Bank to enable payments via bank POS terminals.

• The integration allows MoMo users to pay merchants directly without cash.

• The initiative supports financial inclusion and Zambia’s shift toward a cashless economy.

MTN Zambia has taken a new step in developing digital payments. Its subsidiary, MTN Mobile Money Zambia, announced on Tuesday, March 17 a partnership with Indo Zambia Bank. This partnership enables users to make payments directly on the bank’s electronic point-of-sale (POS) terminals.

MoMo wallet holders can now pay for purchases at merchants equipped with Indo Zambia Bank terminals without using cash. This interconnection between mobile money and banking infrastructure forms part of a broader push toward interoperability in Zambia’s digital financial services ecosystem.

Komba Malukutila highlighted the significance of the initiative. He said, “this initiative is a major step toward a fully interoperable digital payments ecosystem, promoting financial inclusion and innovation.” He added that MTN MoMo is moving beyond traditional mobile money by offering smarter, more inclusive, and better-integrated services to customers and businesses across Zambia.

Komba Malukutila

The initiative relies on the integration of both entities’ systems. This integration enables instant transaction processing. It also builds on Indo Zambia Bank’s recent investments in modernizing its digital infrastructure, including its core banking system, electronic payment services, and digital banking tools.

Beyond technology, the partnership addresses several challenges. It aims to improve user experience by simplifying everyday payments. It also seeks to strengthen financial inclusion by giving mobile money users broader access to formal payment services.

This collaboration comes as Zambian authorities encourage the transition toward a less cash-dependent economy. By facilitating transactions between mobile wallets and banking terminals, MTN and Indo Zambia Bank contribute to building a more integrated payments ecosystem.

This article was initially published in French by Adoni Conrad Quenum

Adapted in English by Ange J.A de Berry Quenum