MTN MoMo Deepens Financial Inclusion Drive With New POS Integration

By Alain Kabinda

MTN Mobile Money Limited (MTN MoMo) has expanded its digital payment ecosystem by enabling customers to make payments for goods and services through Stanbic Bank Point of Sale (POS) machines nationwide, a move expected to accelerate financial inclusion and support Zambia’s growing cashless economy.

The new integration makes Stanbic Bank the latest banking partner to accept MoMo payments on its POS network, joining First National Bank (FNB), United Bank for Africa (UBA), Indo Zambia Bank (IZB), and Zanaco. The development strengthens MTN MoMo’s position as the most widely available mobile money payment option across bank POS terminals in the country.

The solution allows MTN MoMo customers to pay for purchases by authorizing transactions on their mobile phones, while merchants receive instant confirmation through Stanbic Bank POS terminals. The process is designed to provide a faster, safer, and more convenient payment experience for both consumers and businesses.

Speaking during the launch, MTN MoMo Head of Strategy and Business Development, Pafyako Malema-Museba, described the partnership as a major milestone in expanding digital payment acceptance and promoting financial inclusion.

She said the addition of Stanbic Bank to MTN MoMo’s growing network of banking partners demonstrates the company’s commitment to ensuring customers can conveniently use mobile money services wherever they choose to transact.

“With FNB, UBA, IZB, Zanaco, and now Stanbic Bank POS terminals accepting MoMo payments, we have significantly expanded payment acceptance points and strengthened MoMo’s position as the most widely available mobile money payment option on bank POS infrastructure in Zambia,” she said.

Ms. Malema-Museba noted that the initiative supports MTN MoMo’s broader goal of building a more inclusive and cash-lite economy while providing merchants with efficient payment solutions that reduce cash handling risks.

For businesses, the integration opens access to millions of MTN MoMo users, creating opportunities for increased customer reach, quicker transactions, and improved convenience at checkout points.

And Stanbic Bank Head of Corporate and Investment Banking, Helen Lubamba, said the partnership aligns with the bank’s commitment to advancing inclusive financial services and expanding access to digital payments.

“At Stanbic Bank, we are committed to enabling seamless and inclusive financial solutions not only for our customers and merchants but also for the unbanked population. Integrating MTN MoMo into our POS network is a significant step in expanding digital payment acceptance and giving businesses access to a broader customer base,” she said.

Ms. Lubamba added that the collaboration will help businesses and consumers benefit from greater convenience while supporting Zambia’s transition toward a more digitally connected economy.

The rollout of MoMo payments on Stanbic Bank POS machines marks another milestone in Zambia’s digital finance landscape, reflecting growing collaboration between mobile money providers and financial institutions to enhance access to secure and convenient payment services.

Industry observers say such partnerships are increasingly important as the country continues to embrace digital financial services, with mobile money emerging as a key driver of financial inclusion, commerce, and economic growth.

The latest development reinforces MTN MoMo’s commitment to expanding access to digital financial services and creating more opportunities for Zambians to participate in the formal economy through innovative payment solutions.