TNM Plc, a Malawian mobile network and ICT services provider, has launched a Sim swap security feature called Sim swap exemption to combat mobile money fraud in the country.
In an interview with ITWeb Africa, Madalitso Jonazi, TNM's head of brand and marketing, cited the negative impact of mobile money fraud on individuals and businesses as the motivation for the new feature.
Mobile operators on the continent have over the past few years been entrenching themselves in the financial services sector to cover the unbanked and make transactions simpler through mobile money.
TNM said the fraud is compromising the gains of mobile money in Malawi, eroding customer trust and reliability in mobile money services
Jonazi stated that the new feature is TNM's critical move to protect customers.
"Our customers will be able to protect their numbers from unwanted Sim replacements, with this customers will be able to have maximum security as no Sim swap transaction will be completed without the customer giving their own consent," he said.
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