MobileMoney Fintech LTD launches nationwide KYC drive to curb fraud in Ghana’s mobile money ecosystem

Technology

6 July, 2026

MobileMoney Fintech LTD (MMFL) has launched a nationwide “Know Your Customer” (KYC) verification drive targeting all mobile money agents and merchants across Ghana. The exercise, which began on July 6 and will run until October 31, 2026, aims to sanitise customer records, align operations with regulatory standards and bolster security within the country’s vast mobile money network that serves over 17 million registered subscribers.

The initiative comes amid rising concerns over fraud and financial crime in the digital payments space. By requiring agents and merchants to present valid identification documents – including the Ghana Card and business registration papers such as Form A or C, a Business Registration Certificate or a municipal/district assembly certificate – MMFL seeks to create a verifiable audit trail for every participant in the ecosystem.

To streamline the process, the company has established verification hotspots in various towns and introduced the Smart Onboarding Portal, where agents and merchants can update their credentials. Alternatively, users may self‑serve via the official portal at momoonboarding.mtn.com.gh. MMFL has also pledged to send automated SMS notifications at each stage of the application, from submission to final verification and approval.

Abdul Razak Issaka Ali, Chief Commercial and Operations Officer at MobileMoney LTD, emphasised that the exercise is both brief and essential. “Our agents and merchants are at the heart of the mobile money ecosystem, and protecting their businesses remains a priority for us,” he said. “This KYC update is an important step in ensuring our records remain accurate, strengthening security across the network, and meeting regulatory requirements.”

Ali warned that agents and merchants who fail to complete the KYC update by the October 31 deadline will face immediate service restrictions until their records are verified. For troubleshooting, MMFL has directed users to contact their local Territory Sales Coordinators (TSCs) or visit a MobileMoney Customer Service (MCS) outlet.

The move reflects a broader trend among fintech firms to fortify know‑your‑customer protocols as digital financial services expand. By anchoring its verification drive in regulatory compliance and customer protection, MMFL aims to safeguard the integrity of Ghana’s mobile money sector while fostering trust among users and partners.

Image Source: MYJOYONLINE