MobileMoney Fintech LTD has commenced a nationwide Know Your Customer (KYC) update exercise for all Mobile Money (MoMo) Agents and Merchants as part of efforts to strengthen the security of Ghana’s digital financial ecosystem, combat fraud, and ensure compliance with regulatory requirements.

The nationwide exercise, which began this month, will run until October 31, 2026, giving thousands of agents and merchants across the country the opportunity to update their records and continue enjoying uninterrupted Mobile Money services.

According to the company, the initiative is intended to improve the accuracy of customer records, protect businesses against fraud and financial crimes, and reinforce confidence in the rapidly expanding mobile money ecosystem.

To facilitate the process, MobileMoney Fintech LTD has established designated hotspot centres in towns across the country where agents and merchants can complete the update through the company’s Smart Onboarding Portal.

Participants also have the option of completing the exercise independently through the official online onboarding platform.

To complete the update, agents and merchants are required to provide a valid Ghana Card together with relevant business registration documents, including a Business Registration Certificate, Form A or Form C, and a Municipal or District Assembly Certificate where applicable.

The company noted that once the required documents are available, the registration process takes only a few minutes.

Applicants will also receive SMS notifications throughout the process—from submission and verification to final approval—allowing them to monitor the status of their applications.

Speaking on the exercise, the Chief Commercial Operations Officer of MobileMoney Fintech LTD, Abdul Razak Issaka Ali, described the KYC update as an important step in safeguarding both the business interests of agents and merchants and the integrity of the country’s mobile money ecosystem.

He noted that as mobile money continues to play a central role in the daily financial activities of millions of Ghanaians, maintaining accurate customer records has become increasingly important in ensuring secure and reliable 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.

According to him, the exercise will help strengthen security across the network while ensuring compliance with regulatory requirements.

He therefore encouraged all agents and merchants to complete the update well before the deadline to avoid disruptions to their operations.

The company warned that agents and merchants who fail to update their records by October 31, 2026, could face service restrictions until the verification process is completed successfully.

To support participants, MobileMoney Fintech LTD said assistance will be available through Territory Sales Coordinators (TSCs), MobileMoney Customer Service centres, and Agent Association leadership across the country.

As part of the exercise, the company also cautioned agents and merchants to remain vigilant against fraudsters. It advised users to complete the KYC update only through official MobileMoney Fintech channels and reminded them never to disclose their Mobile Money PIN or One-Time Password (OTP) to anyone.

Launched in 2009, MobileMoney Fintech LTD has grown into one of Ghana’s largest digital financial services providers, serving more than 17 million registered subscribers. The company offers a broad range of services, including digital payments, remittances, BankTech, InsurTech, savings, and loans, playing a significant role in advancing financial inclusion and supporting the digital economy.

The latest KYC exercise forms part of the company’s broader strategy to build a safer, more resilient, and trusted digital financial ecosystem while expanding opportunities for individuals, businesses, and communities across Ghana.