EXCLUSIVE: MTN’s MoMo PSB courts old users via voice calls
- MTN Nigeria is deploying targeted voice calls to reactivate dormant users of its MoMo Payment Service Bank.
- There has been a 46.6% year-over-year drop in active MoMo wallets, falling to 2.8 million by the end of 2024.
- The company is restructuring MoMo’s sales incentives to optimize monetization and reduce acquisition expenses.
MTN Nigeria's efforts to revitalize its MoMo service through targeted outreach and increased investment reflect a strategic response to significant operational challenges. However, the persistent decline in user engagement and the impact of past system failures suggest that a more comprehensive approach may be necessary to compete effectively in Nigeria's established financial landscape.
