Mobile money has now released a self reversal option

Author: Umutesiwase Raudwa
On:12/10/2022 20:25
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Mobile money Rwanda ltd has today unveiled MoMo self reversal option, a feature that will enable Mobile Money customers to instantly reverse money to avoid cash-out by a wrong recipient.

The move will see customers initiate a reversal of own transfer without customer care involvement.

This line with Mobile Money Rwanda’s commitment to offer its customer unmatched personalized services as enshrined in its overall mission. The MoMo self reversal will grant customers autonomy and flexibility to self-service and an improved experience in the digital age

The reversal will follow the following simple steps to completion

The approving account holder (the receiver of original transfer) will be notified about the reversal and can either approve or reject this reversal with user approval operation.

It approved , the reversal transaction will be executed, and the amount will be transferred back to the sender

The customer will enter the Momo pin code once initiating and approving the reversal

If rejected the sender will be notified. The reversal amount will be reserved on the account of the receiver for 90days from the initiated date.

A transaction can only be initiator of the self reversal as per 1 transaction ID

A notification to be sent to the initiator of the self versal when found the transaction already withdrawn/transferred from the receiver’s account.

To initiate a reversal, a customer can dial *182*7# and follow the prompts to complete the process.

Chantal Kagame chief executive officer, MTN Mobile Money Rwanda said “we are taking additional, deliberate steps to provide our customers with better transactional solutions. We are combining the power of technology and our innovative spirit to solv customer challernges. MoMo self reversal is just but a function of a better future for our customers we look forward to a continued positive trajectory of offering timrly and impactful dolutions”