Banking was traditionally meant for banks but the modern world has ‘disputed’ this belief by incorporating mobile phones into this industry. The relationship between banks and mobile networks has grown at such a fast rate such that each entity has become dependable on the other.
One such relationship is between South Africa’s Standard Bank and giant mobile network provider MTN. MTN Banking provides clients with MobileMoney account which gives them access to complete banking flexibility wherever they are, whenever they wish and by far accessible with full security using their cellphones.
Put simply, a client’s MobileMoney account is a transactional account and their cellphone number is their account number including one extra check digit. The consumer’s benefits and functionality of their account will not be altered and their banking will not be tempered with in any way; the only change is that a client’s MTN MobileMoney card will be rebranded to Standard bank.
Worth noting is that Standard Bank will continue to provide MobileMoney customers with services that allow them to bank anywhere with their cellphones. Kindly visit Standard Bank and MTN websites for more information regarding this joint financial service by South Africa’s giant businesses.