When a customer registers for a Mobile Money Account or Mobile Wallet, he/she can perform the following services on their mobile phone or device:
Exchange of physical cash into electronic cash (e-value of e-money)
The purchase of e-money/e-value by offering cash to the seller.
Movement of the e-Value available in one’s Mobile Money Account to another Mobile Wallet. In another words, it is sending e-money to others by sms instructions.
a. Exchange of e-value into physical cash
b. The sales of e-money in exchange for physical cash. It is the withdrawal of physical cash in exchange of e-value
4. PAY BILLS:
a. Use of the e-money to pay for day to day services and products e.g. Cable TV, Utility bills, air-tickets among others.
These services are secure, PIN-protected, and supported with a 24/7 Customer service provided by the Mobile Network Operator. Therefore, people can rely on Mobile Money to perform all their daily financial transactions without the need to carry around cash.