Mobile Money Services In Uganda

Mobile Money Services In Uganda

Mobile money is an electronic wallet service. This is available in many countries and allows users to store, send, and receive money using their mobile phone. The safe and easy electronic payments make Mobile money a popular alternative to bank accounts. It can be used on both smartphones and basic feature phones.

Mobile Money Services In Uganda

Mobile payment (also referred to as mobile money, mobile money transfer, and mobile wallet) is any of various payment processing services operated under financial regulation and performed from or via a mobile device, as the cardinal class of digital wallet. A bank account is not required to use mobile money services the only pre-requisite is a basic mobile phone. On the other hand, mobile banking is the use of an application on a mobile device to access and execute banking services, such as check deposits, balance inquiry, and payment transfers.

A person or business that is contracted to facilitate transactions for users. The most important of these are cash-in and cash- out (i.e. loading value into the mobile money system, and then converting it back out again); in many instances, agents register new customers too. To send or receive money to a friend: Register with a money transfer service by setting up an account and making a deposit. Use the provided short text commands to text cash to your friend’s phone number or account ID. Receive funds by requesting and accepting payments via text message.

Mobile money is an electronic wallet service. This is available in many countries and allows users to store, send, and receive money using their mobile phone. The safe and easy electronic payments make Mobile money a popular alternative to bank accounts. It can be used on both smartphones and basic feature phones. They can be used anywhere where there is mobile phone coverage making it cheaper, more efficient and more reliable than a bank account. You do not need a smartphone or internet access to use Mobile Money it will work on the most basic mobile phone.

List Of Mobile Money Services In Uganda

Below Are The Partial List Of Mobile Money Services In Uganda

See More :-

https://www.bou.or.ug/bou/bouwebsite/bouwebsitecontent/Supervision/Supervised_Institutions/Supervision/financial_institutions/2020/Jul/LIST-OF-MOBILE-MONEY-SERVICE-PROVIDERS.pdf