Mobile money are provided by mobile network operators, banks, or third-party providers. It typically operates through a mobile network infrastructure and relies on a combination of telecommunications and banking systems to facilitate these transactions. Users can access mobile money services through dedicated mobile applications, USSD codes, or text messaging. It enables individuals to perform activities such as sending and receiving money, making payments, depositing and withdrawing cash, and accessing other financial services, all through their mobile devices.
The first key feature of Mobile Money is its ease of use, as it only requires a mobile phone number to create an account. Additionally, It has a vast network of agents, making it easy for users to access their accounts and make transactions. The app also offers a variety of security features, such as PINs and fingerprint authentication, to ensure the safety of users’ funds.
The second key feature of Mobile Money is its low transaction fees, making it a popular choice for users who want to avoid high banking fees. Additionally, Mobile Money offers instant notifications for all transactions, giving users real-time updates on their account balances and transaction history.