Forms Capital, MobileMoney Fintech rebrand to Momo Boost
Forms Capital Limited, in partnership with MobileMoney Fintech Limited, has rebranded its overdraft service, XtraBalance, as *MoMo Boost*.
The move, the company said, is part of efforts to simplify the product, improve brand recognition and drive increased usage among MTN Mobile Money (MoMo) customers across the country.
Despite the name change, the service remains unchanged. *MoMo Boost* continues to offer eligible customers instant access to an overdraft facility, enabling them to complete transactions even when their wallet balance is insufficient.
The Head of Business Development at Forms Capital Limited, Mr Ishmael Abbey, said the rebranding was informed by customer feedback and the need to make the service more relatable.
“At Forms Capital, we continuously listen to our customers and refine our products to meet their needs. The transition from XtraBalance to MoMo Boost is not just a name change; it is about making the service simpler and easier to remember,” he said.
He assured customers that they would continue to enjoy the same reliable overdraft service, which allows them to complete transactions when their wallet balance falls short.
Mr Abbey explained that MoMo Boost automatically covers shortfalls during eligible transactions, preventing failed payments and ensuring seamless transactions.
“When your MoMo wallet runs low, MoMo Boost steps in to complete the transaction, similar to borrowing airtime when you run out,” he said.
He noted that after registration, eligible customers are assigned credit limits ranging from GH¢50 to GH¢5,000, depending on their usage and repayment history.
Customers can access the facility through the MTN MoMo USSD menu or the MTN MoMo app, with interest charged only on the amount used and not on the total approved limit.
The service supports a range of everyday transactions, including money transfers, cash withdrawals, merchant and business payments, utility bill payments, as well as airtime and data purchases.
Mr Abbey added that existing XtraBalance users do not need to re-register, as their credit limits, usage history and repayment arrangements remain unchanged.
He reaffirmed the company’s commitment to providing innovative digital financial solutions that promote financial inclusion, enhance convenience and expand access to responsible credit.
BY KINGSLEY ASARE
Follow our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
