Mobile Money Rwanda Limited (MoMo Rwanda) has partnered with Mastercard to launch the Virtual Card by MoMo, a payment solution enabling MoMo customers to make secure e-commerce payments globally.
The service allows customers to shop and pay at outlets accepting Mastercard, addressing the growing demand for digital payment options and cross-border transactions. The initiative is part of MTN Group’s partnership with Mastercard, aimed at expanding digital payment solutions across 13 African countries.
I&M Bank is providing technical support, aligning with Rwanda’s cashless economy agenda by promoting electronic payment methods like MoMoPay.
Chantal Kagame, CEO of MoMo Rwanda Ltd, said the launch highlights their commitment to enhancing customer experiences. “This virtual card will enable our customers to securely shop online and enjoy the benefits of a connected life. It’s the first of many solutions we aim to deliver in collaboration with Mastercard and I&M Bank.”
Benjamin Mutimura, CEO of I&M Bank (Rwanda) Plc, said the card will transform how Rwandans transact. “The Virtual Card by MoMo will revolutionize transactions in Rwanda, fostering efficiency and prosperity while supporting the move towards a cashless economy.”
The card is linked to an MTN MoMo account and can be accessed on any mobile phone. Users manage payments securely by entering their PIN before confirming transactions.
Steps to create the card: Dial 1822*6#, confirm with your MoMo PIN, select “Virtual Card by MoMo”, choose “Create card” and accept terms and conditions.
Users receive an SMS confirmation upon successful creation and can view card details using the same code.
This initiative positions Rwanda as a leader in digital payment solutions, empowering individuals and small businesses while advancing financial inclusion.