Goodbye Mobile Money Fraud ?
As part of efforts to improve the security of Mobile Money payments, MTN has introduced a new way for customers to approve transactions. Starting Monday 6th August, 2018.
Customers will no longer receive prompts to enter their PIN to confirm transactions. Instead, they will have to approve the transaction themselves on their phone.
All other services which require debits on a customer’s wallet will have to go through the approval process before it can be completed.
This move is meant to help reduce the number of fraud activities that occurs regularly on Mobile Money. If this goes well, we may see a new form of added security on Mobile Money transactions. It will mean that customers will have to “intentionally approve” payment requests from a vendor or third party.
Here’s how to approve a payment request:
- Dial *170# and select Option 10, My Wallet.
- Select Option 2 for My Approvals.
- Enter PIN to get your Pending Approval List.
- Select pending transaction to approve.
- Select Option 1 YES to approve the transaction OR Option 2 NO to reject the transaction
Customer receives an SMS as confirmation for a successful transaction.