Mobile Money Rwanda Ltd (MoMo Rwanda), a subsidiary of MTN Rwanda, has joined forces with Mastercard to launch the “Virtual Card by MoMo,” a digital payment solution poised to transform online transactions in Rwanda. The initiative, launched in December 2024, allows MTN MoMo customers to make secure online payments globally, regardless of whether they have a traditional bank account.
The virtual card links directly to a customer’s MTN MoMo account and can be accessed via any mobile phone. Users can apply for the card by dialing *182*2*6#, instantly linking it to their MoMo Wallet. This eliminates the need for a physical card and opens the door to the digital economy for a broader segment of the population.
This partnership is part of a larger MTN Group strategy to expand its collaboration with Mastercard across 13 African countries, focusing on card issuance, acceptance, and remittance services. The goal is to meet the growing demand for digital payment options and facilitate cross-border transactions for millions of MoMo users.
I&M Bank Rwanda is providing technical assistance to support the initiative, aligning with Rwanda’s push towards a cashless economy. “We believe that the Virtual Card by MoMo will transform how Rwanda currently transacts and increase efficiency and prosperity for the Rwandan population,” said Benjamin Mutimura, CEO of I&M Bank Rwanda.
Security is a key feature of the Virtual Card by MoMo, with transactions protected by industry-standard security measures.
For more information on the Virtual Card by MoMo, visit the MTN MoMo website or contact customer service.
