Top Reasons to Use Mobile Money Transfer Services

You no longer have to go to the bank to send money internationally. Traditionally, people relied on wire transfers to send money abroad, which would take more than a few days. However, mobile money transfers have made transfers simple and convenient. Today, nearly a billion people use mobile money accounts to transact locally and internationally. The tech lets you send or receive money through a smartphone or tablet.

What Can You Do With Mobile Money Transfer?

Instead of traveling to the bank, use your phone number or email as your account number to transact locally and internationally. Primarily, the services allow you to send and receive money. You can do this in the comfort of your home or office. Other services include:

Online Shopping – You can use your mobile money wallet to pay for goods online. The transactions are instant.

Airtime Recharge – You can recharge airtime for you or someone else. You never have to leave your office to buy airtime. Better still, you can access international airtime recharges, a great service for people living abroad.

Pay Bills – Whether you want to pay for TV service, school fees, internet subscription, or electricity and water bills, a mobile money account can help you. The number and type of bills you can pay through mobile money depends on your chosen operator. 

Cash Withdrawal – With so many mobile agents in different parts of the country, you can withdraw cash for shopping or other purposes. Withdrawing money involves transferring the cash to the agent and collecting cash. Alternatively, the mobile money service can provide you with a debit card to access your money through an ATM.

Advantages of Mobile Money Transfers

Visiting a physical bank can be stressful, especially when you are pressed for time. The stress is compounded when you have to make a return trip in case of an error. However, with mobile money transfer, you are guaranteed  the convenience of accessing your money at the comfort of your home. You no longer have to wait in long queues in banking halls to send money.

Digitizing payments also increases the speed of transactions. The cost of making these transactions also reduces significantly because you do not need to use a financial intermediary to send or receive payments. 

Mobile money transactions are safe. Instead of carrying cash, you can travel with money in a digital wallet. The money in a digital wallet is as accessible as in your pocket. Better still, mobile money operators are regulated in the countries they operate. The regulations force operators to create data protection systems to protect customers from cyber-attacks. You must provide your identifying details and verify them to create and run an account with a mobile money operator.

Creating a mobile money account and sending and receiving money is easy. Most operators only need an email account or a phone number. Once you verify these, your account will be active. Majority allows you to manage your money wherever you are. Create an account with Majority today and start making fast transactions.