About 5000 agitated mobile money users accross the country have signed a petition to stop the outrageous charges that comes with mobile money transactions.
The petition which started few days has been directed to the Ghana Chamber of Telecommunications to address the various challenges faced by users of the mobile money system.
Undoubtedly the introduction of mobile money concept has contributed greatly in the economies of many African countries which Ghana is no exception.
The cashless systems introduced by the various telecoms have made life easier and convinient as users are able to send and receive payments over their mobile phones.
MTN mobile money, Tigo Cash, Airtel Money and Vodafone Cash are currently the Mobile Money services enjoyed in Ghana.
The major concern of petitioners:
Users are charged to transfer money to other users on same network. Recipients are also charged to withdraw received monies. This makes it a double charge on same transacted amount. When same Money keeps circulating on the Network, the whole Money would eventually turn into charges.
What the petitioners seek:
Petitioners wish to draw the attention of the bodies in-charge of regulating the activities of the Mobile Money service providers to the ongoing thievery by the companies.
1. Double Charging – sending and withdrawing. If it were from one network to another, it would be fair. But transactions within the same mobile money network must be charged once for sending and receiving.
2. Fraud in the mobile money system must be seriously handled. A strong commitment from network operators must be seen to block the fraud.
3.Transactional charges must be monthly volume based or a new paradigm to match normal banking charges instituted.
A scenario ;
Let’s assume I’m paying an amount of Gh12000 to my landlord. We’re both on the same network like say MTN or Vodafone.
The network charges me Gh1 on every Gh100 transaction, hence I would be paying Gh120 as fee for the transaction to my landlord. When he goes to withdraw, he’s also charged the same (Gh120 on the Gh12000.)
Knowing my Landlord for whom he is (and for fairness sake) I would’ve to bare that Gh120 fee he would be charged when withdrawing the money.
So in reality, I would be paying an extra of Gh240 for that single transaction alone.
If I was paying the same amount via the bank, I wouldn’t be charged a dime if we both are customers of that same bank.
Join the fight by using the hashtag #stopMMcharges