MTN reduces P2P MoMo transaction charge by 25%; transactions above GHS1k capped at GHS7.5

MTN Ghana has taken a customer-friendly decision to reduce charges for all Person to Person (P2P) Mobile Money (MoMo) transactions.

The decision has been taken to cushion Mobile Money users in the midst of the implementation of the Electronic Transaction Levy (E-Levy) which is seeing Ghanaians paying more for transactions.

In a message to customers, MTN Ghana says P2P transactions that used to attract a 1% charge will now come with a 0.75% charge.

Meanwhile, the charge of GHS10 for transactions GHS1000 and over is now capped at GHS7.5.

“Y’ello Valued Customer, kindly be informed that MTN has reduced its P2P MoMo transaction charge by 25%, that is from 1% to 0.75%. Transactions above Ghc1000 are also capped at GHS7.5,” parts of an alert sent by MTN Ghana to customers read.

It adds, “Please note that P2P transactions up to Ghc100 on all networks are free from E-levy. Visit www.mtn.com.gh for more information. Keep using MoMo for the convenience and safety it offers. Thank you.”

The government of Ghana through the Ghana Revenue Authority (GRA) commenced the implementation of the Electronic Transaction Levy (E-Levy) on Sunday, May 1, 2022.

All daily transactions beyond GHS100 attract a charge of 1.50%.