• MTN Fintech is guided by the rules and regulations as outlined herein and as shall be amended from time to time and these rules are binding on all who use the Mobile Money platform.

The Agreement

  • Before performing any transaction from your Mobile Money Wallet, you must know the terms and conditions (“rules”) for using your Wallet. You need to understand each clause of the rules set out in this document. You are required to keep these rules as they are a binding agreement between yourself, MTN Fintech and Partner Banks. When you apply for a Mobile Money Wallet you agree to be bound by and to conduct yourself in accordance with these rules.


The following definitions relate to these terms and conditions:

  • “Cell phone” means a GSM terminal connected via a GSM radio link to the Mobile Telecommunications Network (MTN).
  • “Credit” means depositing funds in your Wallet.
  • “Debit” means the movement of funds out of your Wallet.
  • “GSM” means the Global System for Mobile communications as defined in the European Technical Standards Institute’s list of specifications.
  • “Agent” refers to any registered business entity that is authorized to engage in the sale and distribution of Mobile Money products and services and or accept Mobile Money as payment for goods & services offered.
  • “Website” refers to the website address www.mtn.co.sz
  • “Mobile Money” refers to the financial services product offered by us being a transactional banking Wallet.
  • “MTN Fintech” refers to MTN Fintech Services (Pty) Limited, a mobile services company incorporated in terms of the laws of Eswatini.
  • “Pack” means the collection of the User Manual, Schedule of Fees, other documents and advertising material given to an Agent upon successful registration.
  • “Partner Banks” refers to Eswatini Bank, Swaziland Building Society and any other Bank that may be signed on to the Mobile Money Service from time to time.
  • “PIN” means Personal Identification Number being the secret code you choose for your cell phone without which wallet transactions cannot be executed.
  • “POS” means a Point-of-Sale device which is used for Mobile Money transactions.
  • “Services” refers to the services provided by us relating to your cell phone to enable you to use Mobile Money.
  • “SMS” means a Short Messaging Service consisting of a text message.
  • “User Manual” refers to a document, brochure or booklet with information and instructions on Mobile Money and its functionality.
  • “Wallet” refers to a customer’s Mobile Money transactional account which is accessed primarily through their cell phone.
  • “Wallet holder” refers to the individual in whose name the Mobile Money Wallet is registered.
  • “We” or “Us” or “Our” refers to MTN Fintech and Partner Banks.
  • “You” or “Your” means the Wallet holder.

Mobile Money Concept

  • Mobile Money enables its users to do money transfers, payments, deposit and withdraw money and top up airtime from their phone or from any Mobile Money Authorized Agent.
  • Mobile Money users will be informed of any additional features that may be offered in the future on Mobile Money.

Mobile Money Wallets

  • Mobile Money Wallets are opened and owned by Mobile Money Users and this service is currently available to anyone who meets requirements set by MTN Fintech. To become a Mobile Money user, MTN Fintech customers will be subject to requirements from the Central Bank of Eswatini. The Mobile Money user commits himself/herself to use Mobile Money only on MTN Fintech network or on International Roaming unless otherwise notified by MTN Fintech.

Application for Wallet

  • You can only apply for a Wallet if you are an active MTN Eswatini subscriber.  Swati citizens with valid photo ID card and other relevant documents may apply for a Mobile Money Wallet.
  • Foreigners desirous to benefit from this service would be required to provide evidence of residence, in the form of a residence permit.
  • Persons below the age of 18 (minors) can open a Mobile Money Wallet with a guarantor. The guarantor will have to provide some information on a guarantor form.
  • We require your personal details and certain specific information before a decision is made on your application. You must provide complete and accurate information.
  • We may decline your application at our sole discretion.
  • We will verify your identity and may refuse to open a Wallet for you if we are not satisfied with proof of your identity.
  • Your Wallet will be held by MTN Fintech.

Fees and Other Charges

  • You pay fees when you use your Wallet. A list of these fees is available from Partner Bank branches, Authorized Mobile Money Agents and MTN Eswatini Service Centres, by contacting our Call Centre on 922 or by accessing MTN Eswatini’s website www.mtn.co.sz  

Transacting / Limits

  • To manage your money safely there are transactional and daily limits on your Wallet. You can increase or reduce these limits at your convenience subject to the minimum/maximum daily limits as set out by MTN Fintech from time to time.
  • You may access the available funds in your Wallet at any time using your cell phone and or the Internet. While we will make every reasonable attempt to provide the Services, we provide the Services “as is” and without any warranties.
  • You must authorize your transactions with your secret PIN, which you create when you register, or by such other method we may prescribe from time to time.
  • Any use of or transactions concluded through the MTN website are subject to the terms and conditions on the website, as may be amended by us from time to time.
  • Wallet holders shall not withdraw, transfer or make any payments that together exceed SZL 50, 000 per day. Should you exceed any of these limits, your transactions will be declined.
  • We may verify and confirm any record of a deposit into your Wallet. Our records will be taken as correct unless the contrary is proven.


  • All transactions will be in Eswatini Lilangeni.
  • All debit transactions from your Account will be effected by transfer instructions authorized with the MTN MoMo PIN which you select when you register, or by such other method MTN may prescribe from time to time.
  • Your Account will be credited when you purchase MTN Mobile Money by making payments or when MTN MoMo is transferred to your MTN MoMo Account from another Customer and all such amounts will be held in a Trust Account to your order.
  • You may not effect any transactions from your Account in the event that you do not have sufficient MTN MoMo in your Account to meet the value of the transaction and Charges applicable thereto.
  • The MTN MoMo system will verify and confirm all transactions effected from your Account by SMS to you. The MTN MoMo System records will be taken as correct unless the contrary is proved.
  • On being provided with an Account, you will be able to effect the following transactions,
  • A Credit transaction by making a Payment in cash directly to an Agent in exchange for an equivalent amount of MTN MoMo to be credited into your Account. Upon a Credit transaction being made, the MTN MoMo System shall credit your Account accordingly.
  • A Debit transaction by the exchange of MTN MoMo for cash at any Agent by sending a Transfer instruction to the MTN MoMo System and entering your MTN MoMo PIN on your handset when requested to do so by MTN pursuant to which the Agent will pay the equivalent amount of cash to you;
  • The transfer of the MTN MoMo to another Customer by sending transfer instructions to the MTN MoMo System for the account of such Custom, specifying the amount to be transferred,
  • The purchase of MTN Prepaid Airtime by sending a recharge instruction to the MTN Mobile Money System and giving a Transfer instruction for the corresponding amount of MTN MoMo to MTN Fintech as the designated payee;
  • The purchase of Goods and/or Services from Authorized Retailers by Transfer Instructions via the MTN MoMo System of the amount to be transferred to the Authorized Retailer’s Account in settlement of the Goods and/or Services purchased;
  • Upon any Credit transaction and Debit transaction being effected, the MTN MoMo System shall credit or debit your Account once the Sum is equally credited to, withdrawn, or transferred by you from your Account leg receiving and sending MTN Mobile Money.
  • The MTN MoMo System will confirm every transaction made by way of SMS together with an updated balance of your Account, it is the customer’s responsibility to ensure the balances are correct after each transaction and should there be any discrepancies the customer should immediately contact MTN.
  • Any Debit transactions given using the MTN MoMo PIN will be charged to the Account. You acknowledge that unless, and until MTN receives notice from you that your MTN MoMo PIN is no longer secure and/or that your Mobile Equipment has been lost or stolen, MTN Fintech may rely on the use of the MTN MoMo PIN as conclusive evidence that a Debit transaction has been authorized by you. even if it Is actually made without your authority. MTN Fintech shall not require any written confirmation of any transaction instruction.
  • MTN Fintech is unable to reverse or charge -back any Transfer instruction for any reason including the event of any dispute with any other Customer or an Authorized Retailer. You are responsible for resolving any disputes arising with any other Customer or an Authorized Retailer without recourse to MTN Fintech.

Security and Unauthorized Use

  • You are required to select a confidential PIN during registration. This PIN is mandatory for the use of all Mobile Money features in such a manner that no transaction could be affected without entering and validating this PIN. You have three (3) attempts to enter the right PIN. If you enter the wrong PIN on your third attempt, the Mobile Money wallet will be disabled. In the event that the wallet is disabled, customers can call the call center to reset their PINs.
  • You are responsible, for keeping your PIN secret and for all transactions that take place on your Wallet with your PIN and you indemnify us against any claims made in respect of such transactions. Your PIN shall not be communicated to anyone, must be kept in a very confidential manner and should in no case be written on any document. You must ensure this PIN is always composed out of sight of any individual.
  • If at any time you believe or know that your cell phone or PIN has been stolen or compromised, you can call us immediately on 922 (Toll Free). We will block the PIN as soon as we reasonably can. You will remain responsible for all transactions that occur until your PIN is blocked.
  • Should you dispute that any purchase or withdrawal debited to your Wallet was authorized by you, you will have to prove it was not authorized.
  • We can accept your telephonic instructions without your written confirmation. We use authentication questions and/or voiceprint to confirm your identity when you call our Call Centre. These methods give us your authorization to execute your instructions.
  • You are responsible for protecting your computer against computer viruses when you use the Internet to access our website and Internet banking facilities. We are not liable for any computer program or code that may originate from our systems, and you indemnify us against any claims made in this regard.


  • You may, upon payment of a prescribed fee request a statement printout from us showing all the transactions on your Wallet. You must check each statement as soon as you receive it and inform us within 30 days of the date of the statement if you think that a statement is not correct. If you do not do this within this timeframe you hereby waive the right to dispute any transactions reflected on the statement or to recover any losses from unauthorized transactions reflected on the statement.
  • You can use your cell phone to request your balance or mini statement on your Wallet or alternatively you may visit any MTN service center to request for your statement.

Closing Your Wallet

  • We will close your Wallet upon receiving a closure request from you.
  • We can close your Wallet, restrict activity on your Wallet or suspend access to your Wallet if in any way we know or suspect your Wallet is being used fraudulently, negligently or for illegal activities or if we must do so to comply with the Law.
  • We can close your Wallet if we believe that you are in breach of these terms and conditions, are trying to compromise our systems or are unreasonably interfering with any Services provided by us.
  • We may choose at any time to close your Wallet to protect our business interests.
  • If you are no longer an MTN subscriber, we may close your Wallet.
  • We will not be responsible to you for any direct, indirect, consequential or special damages arising from any act or omission by us or any third party for whom we are responsible, whether arising in contract, delict or statute, if we close or suspend your Wallet in terms of this clause 10.

Failure or Malfunction of Equipment

  • We are not responsible for any loss arising from any failure, malfunction, or delay in any POS, cellphone networks, and cell phones, the Internet or terminals or any of its supporting or shared networks, resulting from circumstances beyond our reasonable control.


  • The address you supply on your Mobile Money Registration Form is regarded as your chosen address where notices may be given and documents in legal proceedings may be served. You must notify us immediately should your physical, postal, email address or cell phone number change.
  • We are entitled to send any notice to an email address specified on your application. This communication will be regarded as having been received by you unless the contrary is proved. This clause pertains to customers who have completed the Mobile Money Registration Form.
  • Any correspondence that we send to you by post will be considered to have arrived within seven (7) days of posting and any correspondence that we send to you by fax or email will be considered to have arrived on the day that it was sent.
  • We are entitled to send information to you via SMS to the contact cell phone number provided on your application form and as amended from time to time. These SMS’s are for information purposes only.
  • You should send any legal notice to us at our chosen address:

MTN Fintech

Mahlal’ekhukhwini House


  • You acknowledge and agree that this agreement will be regarded as having been entered into in Zulwini and any breach of this agreement will be considered as having taken place in Zulwini.

Consents and Conduct of the Wallet

  • You, the Wallet holder, consent to us:
  • Making enquiries about your credit record with any credit reference agency and any other party to confirm the details on this application.
  • Providing regular updates regarding the conduct of the Wallet to the credit reference agencies and allowing the credit reference agencies to in turn make the record and details available to other credit grantors.

Fraud Prevention

  • You, the Wallet holder, consent to us:
  • Carrying out identity and fraud prevention checks and sharing information relating to this application with the Eswatini Police or any fraud prevention or security agency as required by Law;
  • Providing details to the Eswatini Police or any fraud prevention or security agency of any conduct on your Wallets that gives us reasonable cause to suspect that the Wallets are being used for improper purposes; and
  • You understand and agree that the record of this suspicion will then be available to other members of the Eswatini Police or any fraud prevention or security agency should they carry out credit or other checks on your name.


  • We may at any time amend these terms and conditions by notice to customers. Any amendment will not constitute a novation of this agreement.
  • You shall not vary any of these terms and conditions.
  • You agree that we may sue you in any court of competent jurisdiction.
  • A favor or concession we may give you will not affect any of our rights against you.
  • These terms and conditions are governed by the Laws of Eswatini.
  • We may allocate any money received from you or held on your behalf to settle any outstanding balance on your Wallet. Should you default on your Wallet while at the same time having a credit balance due and payable on any other Wallet with Partner Banks, we have the right to apply set-off on the affected Wallets.
  • You must notify us if you are under an administration order, sequestration or any other form of insolvency.
  • You must pay all our expenses in recovering any amounts you owe us including legal fees.
  • A certificate signed by any of our managers (whose appointment need not be proved) showing the amount you owe us is sufficient proof of the facts stated on the certificate, unless the contrary is proved.
  • We will not be responsible to you for any indirect, consequential or special damages arising from any act or omission by us or any third party for whom we are responsible and whether arising in contract, statute or tort.
  • You are responsible for your connection to the Internet and all costs associated with that same connection.
  • You must notify us immediately of any change of your details in your application.
  • You agree that your information, including your personal information, your telephone conversations with our call centre and your transactions will be recorded and stored for record keeping purposes for 5 years from date of closure of Wallet.
  • We are obliged by Law to regularly update your personal particulars, such as your current residential address and contact information. We may contact you from time to time in this regard.
  • All copyright, trademarks and other intellectual property rights used as part of our Services or contained on our documents are owned by Mobile Money or its licensors. You agree that you acquire no rights thereto.
  • You accept that all transactions effected on your cellphone are subject to other Terms and Conditions available on our website or from our call centre.
  • Your Mobile Money Wallet may not be transferred to any mobile telecommunications network operator other than MTN Fintech without the consent in writing of MTN Fintech.


  • Any abusive and/or fraudulent usage of a Mobile Money Wallet and any false declaration may be punished by the Laws in place in Eswatini.
  • Any abusive and/or fraudulent usage of a Mobile Money Wallet and any false declaration may also lead us to suspend temporarily or in definitively rights to access to Mobile Money services.
  • Any cost engaged by us in recovering transactions and undue payments made by the wallet user will be borne by the user.
  • Any fee that could not have been debited from the user’s Wallet due to a fraudulent usage will be recovered with an additional legal interest rate.
  • Any transaction or action from you on your Mobile Money Wallet triggering a malfunction of the system and requiring a technical intervention will be charged to you.

Customer Responsibilities

  • Accurate personal information to MTN Fintech. To this end, the wallet owner undertakes to MTN Fintech that any information is true and correct and that he/she is obligated. It is the responsibility of the Wallet owner to ensure that he/she provides to provide any additional information that is required from time to time. Failing will result in suspension or closure of your account.
  • The Wallet Owner will be responsible for payment of all applicable fees for any transaction effected using Your Mobile Money Wallet whether these were made by you or someone else with or without your authority or knowledge.
  • You must not use the Service to commit any offence(s); Fraud and Money Laundering and any other financial offence that is not accepted under the laws of the country or contravenes the Money Laundering and Financing of Terrorism (Prevention) Act, 2011 and any applicable legislation thereto.
  • In case of any complaints regarding the service, the customer must lodge the said complaints within a period of thirty (30) calendar days from the date of detection of the anomaly
  • You must use one of the following medium in lodging their complaints within the thirty (30) calendar days, Call Center, Visit to Service center or via electronic mail from MTN website.
  • In the event of damage, loss or theft of the SIM, you are obliged to inform us immediately of such damage, loss or theft. MTN Fintech will then disable the damaged, lost or stolen SIM Card so as to prevent possible use of the Mobile Money Services until the SIM card has been replaced. To report a damaged, lost or stolen SIM card, you can call the Customer Call Centre on the number 922 (Toll Free) or visit the nearest MTN Eswatini Service Centre.
  • In case of Fraud or scams, the customer must subsequently provide a police extract as part of his or her complaints to commence the necessary checks. Note that any loss incurred during this period will be a personal liability for which MTN Fintech shall not be responsible.
  • The wallet owner will be responsible for all fees and transactions effected up to the time of receipt by MTN Fintech of your report of the damage to, loss or theft of Your SIM card.
  • You must comply with any instructions that MTN Fintech may issue from time to time about the use of the Mobile Money Services.

Recourse Mechanism

                        MTN Mobile Money

  • Customers shall submit their complaints via the channels provided above for resolution. Where there is any stalemate or customer not happy with the feedback from the MTN Mobile Money, the customer shall refer the matter to the Central bank of Eswatini within 30 working days.

Central bank of Eswatini

  • The Central bank of Eswatini shall take up all referred unresolved complaints or disputed decisions by MTN Mobile Money and act as Arbitrator between the parties and give appropriate directives where required.

Eswatini Competition Commission

  • Where a party is dissatisfied with the decisions of the Central bank of Eswatini, the aggrieved party may seek redress with the Eswatini Competition Commission for resolution.

Money Transfer Reversals

  • You must lodge a complaint of a wrong transfer within 30 calendar days from the date of the incident. Careful investigations will be conducted to establish the claim as part of processing the reversal.
  • MTN Fintech will endeavor to effect reversals of a wrong transfer within 2 working days but in any event not later than 14 working days from the date on which a request was made.
  • Where the amount in question is fully available in the wallet as at the time of receiving the complaint, MTN Fintech shall hold the funds for further investigations. Funds which have been partially withdrawn cannot be held.
  • In the event where the amount is not in the wallet, you would be advised accordingly. MTN Fintech may cause further investigations further in this event to satisfy its internal procedures.
  • MTN Fintech will take reasonable steps to contact the supposed wrong recipient, through calls and SMS, within 2 working days of receiving a reversal request.
  • The wrong recipient must make reasonable efforts to respond to the calls and SMS during the 2 days of contact.
  • MTN Fintech will endeavor to perform the reversal after the 2 working days without any feedback from the wrong recipient.
  • MTN Fintech does not have any obligation to perform a reversal in the event of any dispute with any designated payee.
  • MTN Fintech will make reasonable efforts to reverse the amount reported.
  • MTN Fintech will not perform a reversal for a wrong transfer which is not reported within 30 days after the said transaction.
  • MTN Fintech will not be liable for any damages whatsoever resulting from a wrong transaction.
  • If a mobile money account is closed as a result of subscriber’s death, the balance standing to the subscriber’s account shall be paid over to administrator nominated in the letters of administration issued by the Master of the High Court of Eswatini or Executors stated in a will.

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