MTN Mobile Money Uganda has unveiled its new Virtual Card through a partnership with Mastercard, Diamond Trust Bank, and Network International.
Following the successful rollout of a similar solution in Rwanda last year, where MTN Rwanda, in partnership with Mastercard, introduced the Virtual Card by MoMo in November, 2024, MTN Uganda is now leveraging that proven model to expand digital commerce in the country.
“This strategic move is part of MTN Group’s broader Ambition 2025 initiative aimed at driving financial inclusion and boosting digital accessibility across Africa,” noted a statement from MTN.
Digital financial services in Uganda have reportedly seen rapid growth, with mobile money transactions surging to $ 52 billion in the year ending June 2023, marking a 23 percent rise from the $ 42.4 billion recorded in 2022 (Bank of Uganda).
The Virtual Card by MoMo enables users to make card-based payments on e-commerce platforms, websites, and social media channels that accept Mastercard, offering a secure and seamless payment option.
From paying school fees and online shopping to booking travel and subscribing to digital services, MTN MoMo subscribers now have broader access to a Mastercard-powered virtual payment solution.
Jemima Kariuki Njuguna, Chief Product Officer at MTN MoMo, said the virtual card is a major milestone in MTN’s journey in 2025, which focuses on promoting financial inclusion and economic empowerment across Africa.
“By offering a secure and convenient way to access online services, we enable our customers to engage more actively in the digital economy. This new product underscores our dedication to innovation and excellence in the digital financial sector,” she said.
Using the card, small business owners can enhance their online presence by purchasing ads on platforms like Facebook, Instagram, and X (formerly Twitter).
Entertainment enthusiasts can subscribe to popular streaming services like Apple Music, Spotify, and Netflix. Online shoppers gain access to global e-commerce giants such as Alibaba, Amazon, and eBay.
Travelers can seamlessly book flights, hotels, car rentals, and more on sites like Expedia, Booking.com, and Airbnb.
Additionally, for local e-commerce, users can shop for groceries, meals, and other goods from nearby vendors on platforms like Javas, Jumia, and Market by MoMo
Mastercard’s Muhammad Nana, Senior Vice President, Digital Partnerships, said they were committed to driving financial inclusion by leveraging technology to deliver innovative solutions that meet the unique needs of consumers across Africa.
“The launch of the Virtual Card by MoMo in Uganda marks a critical milestone in enabling broader access to the digital economy,” he said.
