MTN Mobile Money Uganda, in partnership with Mastercard, Diamond Trust Bank (DTB), and Network International, has launched the Virtual Card by MoMo, a digital payment solution enabling customers to make secure online transactions without requiring a physical card or bank account.
The Virtual Card by MoMo aligns with MTN’s Ambition 2025 strategy, which prioritizes financial inclusion and digital accessibility.
The service allows MTN MoMo subscribers to make payments on any e-commerce platform, website, or social media channel that accepts card transactions.
Uganda’s digital financial landscape has grown significantly, with mobile money transactions reaching Shs191 trillion in the 12 months leading to June 2023, a 23% increase from Shs156 trillion the previous year, according to the Bank of Uganda.
Speaking at the launch, Jemima Kariuki Njuguna, chief product officer at MTN MoMo, emphasized the card’s role in strengthening Uganda’s digital financial ecosystem.
“The Virtual Card by MoMo is a major milestone in our journey towards MTN’s Ambition 2025. By offering a secure and convenient way to access online services, we enable our customers to engage more actively in the digital economy.”
The Mastercard-powered virtual card enables users to pay school fees, promote businesses on social media, subscribe to streaming services, shop online, and book travel.
DTB’s CEO and Managing Director, Godfrey Sebaana, described the initiative as a game-changer for digital payments in Uganda.
“Many Ugandans have struggled to make online payments. This initiative will drive financial inclusion by providing an easy, accessible solution.”
With over 33 million MTN customers in Uganda, Viola Namuyaba, Senior Manager Payments at MTN Mobile Money, highlighted the convenience of not requiring a bank account.
“Customers often face banking inconveniences. With MoMo, your phone number is the unique identifier, making online purchases simpler.”
Transactions are secured with top-tier encryption standards, and users can load only the amount needed per transaction, giving them full financial control.
The card also provides access to exclusive offers, including discounts on air tickets and other partnerships, further enhancing its appeal in Uganda’s fast-growing digital economy.