Nearly 5000 people have signed a petition to stop the ridiculous charges made by the Telecommunication companies in Ghana on Mobile Money transactions.
The petition, started days ago by Ransford Mensah, prayed the Ghana Chamber of Telecommunications to address the various lapses in the revolutionary Mobile Money system.
Mobile money concept remains one of the most exciting things to have happened in the economies in Africa to which Ghana is no exception. Telecom companies have supported seamless cashless systems where users are able to send and receive payments over their networks.
In Ghana, we can boast of MTN mobile money, Tigo Cash, Airtel Money and Vodafone Cash. These systems introduced by the telecommunication companies has made life very easy for the banked and unbanked populace.
The cost of transactions has become an issue of bother to the sender and the recipient in the chain of these mobile money transactions.
This petition is to gather public and industry concerns on how we can get uniformity in the Mobile Money market as against charges banks make on local transactions.
By signing this petition, we seek to also send a message to banks to ensure better system reliability, availability and environmental comfort for the teaming banking communities.
Let us share our experiences as users at both ends of the mobile money transactional chain on the following:
1. Double Charging – sending and withdrawing. If it were from one network to another, it would be fair. But transactions within the same mobile money network must be charged once for sending and receiving.
2. Fraud in the mobile money system must be seriously handled. A strong commitment from network operators must be seen to block the fraud.
3.Transactional charges must be monthly volume based or a new paradigm to match normal banking charges instituted.
Let’s assume I’m paying an amount of Gh12000 to my landlord. We’re both on the same network like say MTN or Vodafone.
The network charges me Gh1 on every Gh100 transaction, hence I would be paying Gh120 as fee for the transaction to my landlord. When he goes to withdraw, he’s also charged the same (Gh120 on the Gh12000.)
Knowing my Landlord for whom he is (and for fairness sake) I would’ve to bare that Gh120 fee he would be charged when withdrawing the money.
So in reality, I would be paying an extra of Gh240 for that single transaction alone.