MTN MoMo Customers Can Now REVERSE A TRANSACTION Sent Wrongly with MTN MoMo Self-Initiated Reversals

Kampala, Uganda: MTN MoMo (Mobile Money) customers can now reverse money sent wrongly by initiating a reversal on their own with the new MTN MoMo self-initiated reversal function on the MTN MoMo service menu. This implies that MTN MoMo customers shall now be able to save their money sent wrongly or to the wrong recipients on their own to avoid losing it.

Richard Yego, the MTN MoMo Ltd Managing Director

Money sent wrongly has been a pain point to customers and also a high-traffic driver into the MTN call centers and service centers. Name verification was introduced along the way to minimize this risk but it still happens due to various reasons. Now with the MTN MoMo self-reversal feature, customers can simply initiate a reversal in time, by dialing *165*8# yes and select option 7 to initiate a reversal that block their money from getting withdrawn. Thereafter, complete the reversal by contacting the MTN call center on 100.

Commenting about this first-of-its-kind initiative that was launched last week by MTN MoMo, Richard Yego the MTN MoMo Uganda Ltd Managing Director said that the MTN MoMo self-reversal function was introduced to enable customers save money that has been wrongly sent, in time.

“The MTN MoMo Self-initiated reversal shall enable customers to instantly reverse money sent wrongly to avoid cash-out by the wrong recipients. This process is faster and easier. However, do remember to contact our call center by dialing 100 once you have blocked the money in the wallet as the real process of reversal will require you to get in touch with us,” Yego said.

Yego further highlighted that the Self-Initiated reversal money will be reserved for six days from the time the initiation is done by the sender. If the reversal is not completed, the money will be returned to the wrong recipient. To avoid this, customers are advised to call 100 after initiating a reversal in order to have it completed in time. Alternatively, the wrong recipient can approve the reversal. This is a protective measure put in place to prevent the reversal of genuine transactions.

This service is limited to peer-to-peer (customer-to-customer) transactions and is valid for transactions made within the last 24 hours and for amounts not below UGX 500. For partly used funds by the wrong recipient, the sender will be notified to call the MTN customer helpline for assistance.

This initiative underpins MTN’s commitment to delivering next-generation customer service experience defined by convenience, safety, and peace of mind as it delivers the benefits of a modern connected world to all.

How to initiate a MoMo Reversal (Step-by-step)

Dial *165#
Select Option 8 (My Account)
Select Option 7 (Initiate Reversal) You will see the last 3 transactions you performed
Select the transaction you want to reverse
Enter your PIN. You will receive a confirmation that the recipient has been blocked from withdrawing the money.
Call Customer Care on 100 to complete the reversal within 6 days

MTN MoMo Uganda is a 100% subsidiary of MTN Uganda and the leading Mobile Financial Services provider in Uganda, providing services to more than 9 million customers. MTN MoMo Uganda avails its customers with safe, secure and trusted virtual mobile money wallet services, person-to-person money transfer, utility payments, MoMo Pay, school fees payment, savings and loans and many other financial services using a mobile phone.

MTN Uganda is a leading telecoms company in Uganda with a primary objective of carrying on the business of a national operator of a telecommunications network under the National Telecommunications Operator (NTO) license granted by the Uganda Telecommunications Commission (UCC). Among our offerings are network services, digital and financial technology services, interconnect and roaming, sale of mobile devices and MTN Mobile Money (which is conducted through subsidiary MTN Mobile Money Uganda Limited). MTN has a presence in all 134 districts of Uganda. services are delivered through a network of over 120,000 Mobile Money agents, 200 service stores and 13 main distributors. At end of Quarter 1 2022, MTN Uganda had 15.9 million subscribers, 9.5 million MoMo users and 5.4 million active data users.

Launched in 1994, the MTN Group is a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our 240 million customers in 21 countries in Africa and the Middle East. We are inspired by our belief that everyone deserves the benefits of modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code “MTN”. We are pursuing our Ambition 2021 strategy with a major focus on growth in data, fintech, and digital businesses.