Things you can do with Mobile Money

Posted by Felix Okoli on Thursday November 7, 2013 at 10:10:25:

Ever since Mobile money came into our society, not many people really know what specifically the service can be used for. Questions like, "what is Mobile money" and "what can it be used for" are among the common questions.

Well, there are lots of things one can do with Mobile Money and I just want to list some of the basic things here.

Things that can be done with Mobile Money
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1. Airtime top up
2. Electric bills payment
3. Cable tv subscription renewal
4. Pay for shopping
5. Send money
6. Receive Money

Airtime Top up: Mobile Money can be used to buy airtime credit for the subscriber's mobile phone or for a third party. What is basically requires is for the MM subscriber to have sufficient funds and access the MM service on his phone and airtime credit will immediately be sent to the person's phone number using a Virtual Top up service.

Electric bills payment: Mobile Money can used for pay for electricity bills whether it is prepaid or postpaid. Just select the bills > Electricity option from your Mobile money menu and proceed to payment. For prepaid bills, a meter token will be sent to the phone while for a post paid, it would automatically be credited to the subscriber's account.

Cable TV subscription renewal: If you are a subscriber to a cable service like DSTV, you can also renew your subscription without going to their office or the bank. Just access the menu > Bills > Cable tv and select to pay your provider. It's normally good to do this before your subscription expires so as to enjoy a continued service.

Paying for shopping: More and more merchants in local shopping stores now accept Mobile money as a form of payment. This means, you can now pay for your items during checking out with Mobile money apart from just cash or ATM cards. You can find out if your merchant is on your MM platform by going to your MM menu > Pay bills > Merchant. There are many Mobile money providers in Nigeria and some merchants may have a specific MM platform which they already use.

Send Money: Rather than just sending money to someone else in the village or in a different location through the bank or with a recharge card, you can now do it more conveniently with your Mobile phone on the mobile money platform. Once the money is sent, the person can withdraw it from an ATM or even leave it as a credit to his Mobile Money account

Receive Money: If you already have a mobile money account, you can receive money from people who also have Mobile money accounts. You may tell your friends, family and contacts to send you money using your same provider and you'll then be able to receive money almost immediately as they send it.