MMG experienced ‘tremendous’ growth over the past year 
GTT CEO, Damian Blackburn
GTT CEO, Damian Blackburn

-new services include salary payments

WITH almost 70,000 customers and over 750 merchants and agents, the Guyana Telephone and Telegraph (GTT) electronic payment service Mobile Money Guyana (MMG), has seen massive growth over the past year, and is expecting even greater growth as it begins to expand services to include facilities such as salary payments by employers.
The company is also considering a possible future with MMG debit cards, and making MMG commonplace at merchants all across the country.
In an exclusive interview with the Guyana Chronicle on Friday, MMG General Manager Bobita Ram, shared that although the COVID-19 pandemic was a catalyst for increasing Guyanese usage of the services, the facility has been seeing growth year-on-year.
“The growth has been phenomenal,” Ram related, further explaining that: “We have more than doubled the business. In terms of number of customers, in terms of number of transactions, types of transactions, in all of those criteria over the last year we have seen more than double growth.”

MMG General Manager, Bobita Ram

Launched eight years ago, MMG offers a wide range of services including purchasing cellphone credit and bill payments. Over the last year with the pandemic reducing social contact, MMG’s “electronic wallet” which allows for cashless, electronic payments, took centre stage.
“We’ve enabled large and small businesses, and consumers to realise they do not have to physically travel to a location to make a payment. They can sit in their living room making payments and reliably deliver to whoever they have to pay,” Ram commented.
A peer-to-peer payment system similar to Square Inc’s CashApp, the service allows users to safely transfer money electronically between accounts, without the need to exchange physical cash. The system functions similar to a bank account, allowing persons to deposit money into their accounts at any of several agents.
The money can be stored, used to conduct payments, or withdrawn with ease using a number of options.
Customers can conduct transactions using an android app, by visiting the website, or with the phone you can use *123#. Last year, the company invested in upgrading the interface of the android app.

“Will we stop there? No, we will continue to innovate. A card could be on the horizon. How soon I wouldn’t be able to say. But not only a card but several other means of innovating to enhance the customers’ experience,” Ram shared.
With the increasing cases of cash robberies highlighting the need for more cashless options, Guyanese have been increasingly capitalising on the electronic payment option that MMG provides.
Ram explained that particularly during the pandemic, the service was a lifesaver for many small business service providers who were worried about how they could get payments without leaving their location.  Over 33,000 customers have their own MMG “electronic wallets” where they can safely store cash and make payments. The system has registered over 150 merchants ranging from taxi and delivery services, to gas stations, supermarkets and fast food restaurants.
“We have changed the behaviour in many instances for customers in how they see payments. We have enabled businesses to realise they don’t have to be opened 24/7 to receive payments because of an electronic process that can happen at any moment,” Ram said.

GTT has also begun piloting salary payments using the service, and has given its own employees the option of having their salaries paid though MMG. The telecommunications provider is working along with other businesses to expand this facility. Last year, the business went a step further and signed partnerships with a number of local banks enabling consumers to transfer money from their bank account to the MMG account which can then be spent on any of the host of services offered by the facility.  GTT has been proactively expanding the services that MMG can be used for. The company’s Chief Executive Officer (CEO), Damien Blackburn said the company also continues to encourage businesses to partner with MMG to make the provision of their services easier.  “We are on a mission to make it as easy as possible for persons to get money in their wallet. I put an appeal out as the GTT CEO, anybody who thinks they can use the MMG, and they want to use GTT wallets,” Blackburn conveyed.  “We’re listening to everybody about what they want to do. If you can pay by VISA, why not pay by MMG. A lot of people are asking us that. And we’ve put that announcement out, any company – big or small – that want to work with MMG please get in touch with us and we will help make that vision come to life,” he added.

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