MTN Mobile Money has introduced a merchant payment service using an application called MoMo Pay, this enables QR code payments on the MTN mobile money system. Currently, all merchants are assigned a merchant ID (mID) to uniquely identify the merchant and is a key element with the payment process.
Given the cost and challenges faced regarding the deployment of physical point of sale terminals to prospective merchants there is clear value proposition in MTN offering this channel for merchant payment acceptance. This is an opportunity to create additional merchant identifiers that will have a considerable cost saving and contribute to the overall merchant value proposition and customer payment experience.
All merchants on activation will be given a Merchant ID (mID) and a quick response code (QR) as a primary merchant identifier. The static QR code will include the MSISDN, merchant name and mID embedded within the QR image. This will enable the merchant to accept payments from a Mobile money user that is utilising the service from an MTN mobile application interface. The introduction of the QR code will enhance the overall payment experience.
The MoMo Pay service will also be on the USSD channel (*303#).