STO & Ooredoo Partner for Mobile Money Services across Maldives
Ooredoo Maldives and State Trading Organisation have partnered to support financial inclusion across the nation, through an increased accessibility to Ooredoo Mobile Money Services. The partnership was formalised at a special ceremony held at Ooredoo headquarters, with a memorandum of understanding being signed by the Managing Director of State Trading Organisation, Mr Ahmed Shaheer and Ooredoo Maldives CEO, Mr Vikram Sinha.
Under this agreement, STO pharmacies will support local communities as Ooredoo Mobile Money agents, allowing customers to register for the service, deposit cash to their mobile money account, and withdraw cash from their account. With STO pharmacies being available at all inhabited islands across the Maldives, this will expand the reach of mobile money services to customers across each and every corner of the Maldives.
STO and Ooredoo Maldives will also work together to enable mobile money payments for STO customers, which will allow them to use the convenient service to make payments across all STO outlets.
Ooredoo Maldives CEO, Mr Vikram Sinha said: “With a vision of enriching lives through expansion and accessibility, STO has made excellent progress in reaching out to all corners of the nation. As such, we are very pleased to partner with them, in order to connect all local communities to our complete portfolio of services provided by Ooredoo Mobile Money. With a common vision of enriching lives, we are confident that our partnership will add value to the lives of our mutual customers across the nation.”
Managing Director of State Trading Organisation (STO), Mr Ahmed Shaheer said:“I believe that it would be an added convenience for the people, when Mobile Money Service is introduced at STO outlets”
Ooredoo Maldives piloted its Mobile Money services in February 2016, with the aim of providing local communities with an easy, secure and affordable way to manage monetary transactions, through a simple mobile phone. The services enables monetary transactions to be carried out via a mWallet - a virtual account tied to the customer’s mobile number and valid identification card. Ooredoo’s mWallet allows customers to transfer money, top up their prepaid accounts, pay merchants, and even pay their bills. Customers can easily deposited and withdraw money to their mWallet, through Ooredoo Mobile Money Service Centers situated across the nation.
While Ooredoo’s Mobile Money service has only been opened to a limited number of customers during the pilot phase, this service will soon be available for all customers using a local network provided that they have a valid national identification card or passport, following its commercial launch.
Ooredoo has also recently signed an agreement with State Electric Company Ltd, to enable electricity bill payments via Ooredoo Mobile Money service.
