Cameroon - Collections Product Details

Collections is a service that enables Mobile Money partners to receive payments for goods and services using MTN Mobile Money. The services can be face-to-face like MomoPay or can be done remotely for both offline and online. Payments can be customer-initiated on USSD/App/Web or Merchant-initiated where a customer is sent a debit request for approval.

Once the service is enabled, a Collections account is created for the partner to which funds are deposited/received. The partner is able to make onward payments to their suppliers/partners/employees (B2B or B2C) and/or liquidate the collected funds into their respective bank accounts.

The service offers the convenience of collection for online payments, bills, loan repayments, contribution to activities and installments to mutually agreed upon repayments of services and products.

OPERATING PROCEDURES

  • The service facilitates the collection of funds from customers for payment of goods and services offered by the partner.

  • MMC shall (on its Mobile Money platform) create a collections account into which all funds collected will be held.

  • The Client can access the funds at any time once the transaction has been executed.

  • The client can opt for liquidation into their bank account or liquidate on their own from their using the partner GUI collections account using other payment channels available on the MTN MoMo platform.

  • In case the client opts for liquidation into their bank account, the client’s bank details will be captured as part of the onboarding process by MMC.

  • The Client shall be charged a fee per transaction on their collections’ account.

  • The applicable fees are deducted directly from the client’s account as and when liquidation is executed by MMC back office.

  • The transaction fee structure is stipulated in Schedule 1 below.

  • The fees may be changed from time to time and will be communicated accordingly on such medium as MMC may deem appropriate.

  • Each transaction performed by the client’s customers shall be subject to the transactional limits applicable as determined by the BEAC.

  • MMC may amend the provisions of this Transaction Procedure time to time as and when required.

SCHEDULE 1: FEES

This Schedule reflects the fees that shall be applicable to partners who use the Collections product.

DETAILS:

  • A Fee of between 1% shall be charged per transaction.

  • The fee shall be charged directly on the client’s collections account.

  • A determination of the exact percentage will be done by MMC based on the Type of Business of the client and the expected average transaction value.

  • The fees can be negotiated between MMC and the client. For more information, please email us at MoMoCorporate.CM@mtn.com.

  • MMC may revise the fees from time to time per business decision and duly communicate any changes to the client.

  • There is no cost per API call.