No need for an ATM or cash when you have a mobile phone

Posted by Felix Okoli on Saturday January 25, 2014 at 13:11:17:

This is what Mobile money is really about - Using your mobile phone for all your financial needs.

With mobile money, you no longer have the need to carry cash, bank cheque or ATM card. With a mobile phone you can make payments for goods and service and even withdraw money from ATMs without the need for anything else.

A mobile money account links your mobile phone to a bank account that allows you to do the usual things you normally do with your bank.

Want to send money? You can do it with your mobile phone. If you also want to withdraw money, you phone can do it in a jiffy. Same also if you want to buy airtime, pay bills and even check your bank balance.

There is now no real need to carry a mobile phone and at the same time carry an ATM card or cash except when you just feel like.

Think of the usual things you normally do with an ATM card or cash. Now how do you feel when you can do all that with your mobile phone? Well, this is what we are talking about when we talk about mobile money.