MTN Rwanda subscribers that are also clients of Cogebanque will now have their mobile money wallets linked to their bank accounts.
“Push and Pull”, is a new business partnership the two companies penned on Thursday which will allow this mode of e-banking to happen.
Customers will be able to deposit (push) their money on the bank account from Mobile Money and vice versa. They will also be able to pull (withdraw) their money from bank account via Mobile money or vice versa.
The Chief Business officer of MTN Rwanda Norman Munyampundu said “The partnership agreement constitutes another milestone that brings convenience to customers of both companies who will now access various innovative financial services under the mobile money platform.”
On his side Louis de Montfort Mujyambere, Director of business development at Cogebanque said, “This Push and Pull product is coming to add on our daily endeavors to ensure customer satisfaction and service quality, allowing all of them to transfer, to pay quickly, easily and securely with the thumbs on their phones.”
He further said that Cogebanque will keep monitoring market trends and new innovations to be able to offer enhanced products and services that are tailored to meet the needs of customers in the digital age.
Meanwhile, ‘Push and Pull’ Service is working in most commercial banks of Rwanda.
There have been transactions worth Rwf2.6 billion every month within the “Push and Pull” services across telecoms since 2016 when the program was started. Currently, 9 commercial banks are using the service.
MTN Rwanda has 3,576,352 out of 8,592,544 registered subscribers across the 3 networks including; (Tigo: 3,387,682), (Airtel: 1,628,510).