MTN Group Fintech, in partnership with Paysky, has officially launched Market by MoMo, a groundbreaking e-commerce platform designed to provide Ugandan Merchants and consumers with a seamless online marketplace experience.
Market by MoMo offers a one-stop solution for buying and selling a wide range of products, including electronics, groceries, fashion, beauty products, and more. This innovative platform combines convenience, reliability, and flexibility with features such as secure payment and fast deliveries.
Empowering Uganda’s Digital Economy
In close collaboration with MTN Fintech, Paysky, a leading provider of digital payment solutions, played a pivotal role in co-creating this transformative platform. Market by MoMo marks a significant milestone in advancing Uganda’s digital economy, fostering a dynamic partnership that empowers Merchants to expand their reach while enriching the consumer shopping experience
Waleed Sadek, Founder and CEO of Paysky, emphasized the company’s vision to empower businesses and individuals across the Middle East and Africa (MEA) region through cutting-edge payment infrastructure. “Since our inception in 2017, Paysky has been committed to democratizing digital financial services and so far has achieved that for over half a billion citizens and two million businesses. Our collaboration with MTN to launch Market by MoMo is a natural extension of this mission, bringing secure, flexible, and reliable payment solutions to Uganda,” he said.
Paysky’s Role in Financial Inclusion
Paysky has been instrumental in driving financial inclusion across the African continent by providing central banks in 10 countries with world-class digital financial services platforms. This commitment to innovation and inclusion has accelerated national campaigns aimed at increasing access to digital financial services. With the launch of Market by MoMo, Paysky continues to support the growth of digital ecosystems and empower local businesses to thrive in an increasingly connected world.
“By providing a seamless payment and e-commerce infrastructure, Paysky advances digital financial service value chain and enables the smooth operation of e-commerce platforms like Market by MoMo, allowing businesses to expand their reach and improve their financial performance,” said Sadek.
Richard Yego, Managing Director & CEO at MTN Mobile Money Uganda, spoke about the significance of this initiative: “We are committed to building a more equitable, connected, and empowered society. Market by MoMo is an integral part of our strategy to create a brighter and more inclusive digital future for Africa, bringing together consumers and businesses in a seamless digital marketplace.”
Hesham Safwat MTN Fintech Group Head of Fincommerce, highlighted the importance of collaboration in making this vision a reality: “This launch is a testament to the power of partnerships. By working together, MTN Group Fintech and Paysky are delivering an integrated platform that connects Uganda’s Merchants to millions of potential customers, empowering individuals and businesses alike.”
Expanding Horizons: MTN Group Fintech and Paysky’s Regional Plans
In addition to the successful launch of Market by MoMo in Uganda, Paysky and MTN Group Fintech are also collaborating on the upcoming launch of the Market by Momo across many of the countries covered by MTN Group Fintech. This expansive initiative will bring the benefits of a digital marketplace to over a hundred million users across Africa, enabling businesses to tap into new markets while offering consumers access to a wide variety of products with seamless, secure, and flexible payment options.
The partnership between MTN Group Fintech and Paysky aims to further drive digital financial inclusion and transform the e-commerce landscape in the region, unlocking new opportunities for both Merchants and consumers.