3 Reasons for Using Mobile Money in 2020

The advancement in mobile technology has made our lives a lot easier, especially in the finance sector. Did you know, about 80% of adults of Africa continent don’t have access to formal and semi-formal banking services? Imagine how difficult it would have been if not the mobile technology that made it easier. 

Right from money transfer, bill payments, online loan facilities to insurances you can do it all using mobile phones. All you need to do is finding the right technology partner. But also, don’t forget, you might have to pay a little charge to leverage these services. For example, here you can check out the MPESA charges easily for different services. 

If you are still thinking twice before using mobile money services in 2020, here are 3 key benefits:

  • Fast and Safe

In developing countries, people don’t have access to financial services easily. If we go by facts, in the rural region of Kenya, it takes half an hour to reach the nearest bank branch. Not only do these mobile technologies cut down the travel time, but they also make it secure. Mobile technologies use dependable security solutions to prevent any security breach. It is very secure and faster, it is like having your bank in your hands.  

  • No Chance Of Corruption

With zero contact with the officials, it prevents you from falling prey to any corruption game. In third world countries, corruption is one of the biggest problems and people don’t prefer to come out with their problems to officials thinking they might be asked to pay a sort of illegal charge. But with mobile payments, you have zero contact, you can pay for taxes, licenses, permits, bills and don’t have to worry about anything. 

  • It Is Best In The Times Like Covid-19

Meanwhile, we all understand the need for self-quarantining, that cannot stop our daily lives. You will have to make purchases, fund transfer, pay your bills, require insurance, or other things. For which mobile money is the best. You don’t have to leave your home and all things are sorted out just by using mobile technology. 

From the Ebola epidemic to flooding to extreme levels of food insecurities, mobile money has allowed people to reach out to the needy, without worrying about the unavailability of the physical cash. 

Using mobile money, you can do a lot well, for yourself and others. These three facts are surely going to inspire you to do.