MobileMoney Fintech LTD (MMFL) has launched a nationwide Know Your Customer (KYC) update exercise for all Mobile Money (MoMo) Agents and Merchants in a major move to strengthen the security of Ghana’s mobile money ecosystem, combat fraud and ensure compliance with regulatory requirements.
The exercise, which is currently underway, is expected to run until October 31, 2026, and forms part of MMFL’s broader strategy to improve the accuracy of customer records while safeguarding businesses and the country’s rapidly growing digital financial services sector against financial crimes.
To facilitate the exercise, the company has established designated hotspot centres in various towns across the country where Agents and Merchants can conveniently update their records through the Smart Onboarding Portal.
Participants also have the option of completing the process independently through the company’s online onboarding platform.
Required documents
MMFL has advised all Agents and Merchants to have the necessary documentation ready before commencing the update process.
These include a valid Ghana Card and relevant business registration documents such as a Business Registration Certificate, Form A or Form C, as well as a Municipal or District Assembly Certificate where applicable.
According to the company, the update process takes only a few minutes once all the required documents have been assembled.
To improve transparency and convenience, Agents and Merchants will receive SMS notifications at every stage of the process—from submission through verification to final approval—allowing them to monitor the progress of their applications.
Protecting businesses
Speaking on the exercise, the Chief Commercial Operations Officer of MobileMoney Fintech LTD, Abdul Razak Issaka Ali, said the initiative demonstrates the company’s commitment to protecting the businesses of its partners while preserving the integrity of Ghana’s digital financial ecosystem.
He noted that with mobile money now playing a central role in the daily financial transactions of millions of Ghanaians, maintaining accurate customer records has become essential for ensuring secure, reliable and uninterrupted service delivery.
“As mobile money continues to play a critical role in the daily lives of millions of Ghanaians, maintaining accurate records is essential to protecting the integrity of the ecosystem and ensuring uninterrupted service delivery. Our Agents and Merchants are at the heart of the Mobile Money ecosystem, and protecting their businesses remains a priority for us,” he said.
Mr. Ali explained that the KYC update would not only improve the accuracy of customer information but also strengthen security across the Mobile Money network while ensuring continued compliance with regulatory requirements.
“This KYC update is an important step in ensuring our records remain accurate, strengthening security across the network, and meeting regulatory requirements. We encourage all Agents and Merchants to complete the process early to continue enjoying seamless and secure Mobile Money services,” he added.
Deadline and support
MMFL cautioned that Agents and Merchants who fail to complete the KYC update before the October 31 deadline may experience service restrictions until their records have been successfully updated.
To ensure a smooth process, the company has made support available through Territory Sales Coordinators (TSCs), MobileMoney Customer Service (MCS) outlets nationwide, and Agent Association leadership.
Fraud warning
The company has also advised Agents and Merchants to remain vigilant against fraudsters who may seek to exploit the exercise.
MMFL stressed that all updates should be carried out only through its official channels and cautioned participants never to disclose their Mobile Money Personal Identification Number (PIN) or One-Time Password (OTP) to anyone.
The company reiterated its commitment to building a secure and trusted digital financial ecosystem while expanding access to innovative financial solutions that empower individuals, businesses and communities.
It noted that strengthening customer verification processes is critical to sustaining confidence in Ghana’s digital payments landscape and unlocking greater opportunities for financial inclusion and economic growth.
