Why Mobile money services are important to Cameroonians: Mobile Banking

 Mobile money is another technology to the  cashless economy which has registered a remarkable success rate in Cameroon, thanks to MTN Cameroon( MTN Mobile Money) , Orange Cameroon(Orange Cameroon)  and Afriland First Bank which seem to be playing a key role in supporting the use of mobile money services in Cameroon.   

Mobile money services are becoming popular in Africa with countries like Nigeria, Kenya, Ghana, Gabon ,Uganda among others integrating the service to facilitate payment online .Glo, Vodafone,Airtel,Tigo,MTN , Orange, Expresso are some telecom companies that are doing great in Africa in the mobile banking sector.

Some people are not still experiencing this technology, reason why you should read this post. If you have mobile money account read the post

7 Things You Should KnowAs An Mtn Or Orange Money  User

                     Reasons to use Mobile money services

1.    No bank account is needed to create an account. Even my grand ma can create one. Just take your ID card to any mtn mobile money point or MTN commercial center to get started. Better still you can dial *126#  (MTN) or #150(Orange) and  follow the instructions if you like easy things.

2.    Zero Cost is getting started: Compared to banks where we are required to fill long forms and deposit and initial amount in your account, creating a mobile money account is free.

3.    Low transfer Charges: Today, we are able to save 350 XAF if we send money (10 00 XAF) to our friends and love ones locally. It will cost you just 150 XAF to get 10 000 in cash if you use either Orange Money or MTN Mobile Money Cameroon. This is very low compared to 500 XAF rate at express union (the most used money transfer service in Cameroon).

4.    Free Airtime and SMS:  If you like calling for free then consider using a mobile money service as users are rewarded with free airtime when they do transactions.

5.    Good bye to queues:   With the marketing strategy brought by MTN and Orange, it is impossible to stand on a queue when you want to receive money.  There are several sales points available in every town which gives you an option on where to collect your cash.

6.    No Verification required doing a transaction:   have you found yourself in a situation where money was sent to you but you cannot get it because you misplaced your ID?

By using the mobile money services, we can say good bye to such stressful moments.  All you need to do transactions is your mobile phone and a SIM card.

7.    Good for your online shopping:  Online shopping sites like Jumia accepts mobile money payments. It is safe to pay with mobile money as no one can have access to your account contrary to VISA and master card which gives access to your funds.

8.     Enjoy the Cashless economy: With a mobile money account you move with large amounts of money just in your mobile phone.  If you’re like your money to be smart then you can try mobile money.

9.    API available: while word press developers are eagerly waiting for a mobile money plugin, developers can used the mobile money API to integrate them on their plat forms to accept money online.

10.                     An additional use for your mobile Phone:

The phone is commonly used today for making calls,sending sms and browsing the internet . By subscribing to a mobile money services means you are making your phone your bank. You manage your money without a lazy accountant telling you to correct your name or add an a somewhere.
11. Easy to Access
You don't need to request your bank statement from any body to follow up your transaction. with Mobile banking technology, you can check your account balance,transaction history,deposits, withdrawals and others any where when you wish. MTN Cameroon provides an option to print your transaction history online.

     Do you have a mobile money account? You should get one because the next will be cryptocurrencies.