There are many people who are unaware of how Mobile Money and Mobile Banking work. Many people have been assuming that these methods are not related and are independent of each other. In fact, Mobile Money and Mobile Banking are completely intertwined.
Many of us had our first experience with Mobile Money while surfing the internet for a relief from various money problems. People were using their credit cards, debit cards and checking accounts to transfer money between each other.
You can use a mobile cash point as well, using your credit card or debit card, to pay for shopping in order to buy some goods and services. You don’t need to carry large amounts of cash anymore. Your amount can be deducted from your account once you have used it to purchase something. This is the Mobile Money idea in a nutshell.
Another way of transferring money to your friends and family or a business associate is through Mobile Money. All you need to do is find a compatible provider who offers mobile banking and Mobile Money programs, and you have a point to transfer money between all your friends and relatives.
You can also use Mobile Money to make payments to your online store for services that you get and that can be paid via online banking or EFT (Electronic Funds Transfer). You just have to have a compatible bank account in order to transfer funds between all your accounts.
In fact, it can also be used to transfer money to a friend or relative, or any other person or company. However, make sure that you inform the person or company that you have sent money to in advance.
Once you start using Mobile Money, you will find yourself looking for more ways to do so. It is very convenient to do so as it only requires a few minutes of your time. You don’t have to leave your house for this either.
And since you don’t have to travel to and from the mall, you will have more time to go to work or relax at home. When you are online all the time, you are free to do whatever you want.
Furthermore, you are provided with a lot of mobile money-related features. You can search for new offers and deals. You can even check up on a business partner, as you will be able to see the transaction history.
Mobile Money helps you make payments through this technology. This allows you to shop and pay for services without having to take out your cards.
You can also use this technology to order goods and services from different retailers and get discounts and free gifts along the way. Mobile Money is an innovative way of transferring money.
