For information on Mobile money, click on any of the below links.
- What is Mobile Money?
- What can my recipient do with Mobile Money?
- How does Mobile Money work?
- How safe is Mobile Money?
- Where can my recipient get a Mobile Money account?
- How do I send money to my friend’s Mobile Money account via WorldRemit?
- What is the difference between Mobile Money and airtime topup?
- Which countries can I send Mobile Money to?
What is Mobile Money?
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.
What can my recipient do with Mobile Money?
Most Mobile Money services allow users to purchase items in shops or online, pay bills, school fees, and top-up mobile airtime. Cash withdrawals can also be carried out at authorised agents.
To pay a bill or send money to another person, the user selects the relevant service from their phone’s Mobile Money menu. Paying with Mobile Money is just like sending a text message – it’s simple and easy.
How does Mobile Money work?
Mobile Money stores funds in a secure electronic account linked to a mobile phone number. In some cases the wallet number will be the same as the phone number, but not always – they can be different. Before sending funds to a mobile money wallet, please check with your recipient to determine the correct number.
For more information on the services available via Mobile Money in your recipient’s country, please check the provider’s website or visit one of their dedicated agents.
How safe is Mobile Money?
As Mobile Money is a similar concept to a bank account, funds held in a Mobile Money account are protected by local financial regulations. Mobile Money providers and partners like WorldRemit are required to check the identity of their users - making it much harder for fraudsters and criminals to use these services illegally.
Mobile Money services store a record of every transaction and account balance, so even if the phone or SIM card is lost or stolen, the user’s money is kept safe. Additionally, every transaction requires identification in the form of a secret PIN.
For more information on the legal requirements for Mobile Money services, visit the GSMA webpage here.
For more information about the security benefits of Mobile Money, please visit your local Mobile Money provider’s website.
Where can my recipient get a Mobile Money account?
Mobile Money is available in a large number of countries and is especially popular in places where people are less likely to have bank accounts.
Most Mobile Money services are offered by local mobile telecoms operators who have received a license to operate electronic payments services. Some Mobile Money services are offered by banks or other companies.
To register, the customer needs to visit their local Mobile Money agent and bring a form of identification, such as a valid passport, driver’s license or a government ID.
For further details on how to register for a Mobile Money account, visit the website of your local Mobile Money provider.
How do I send money to my friend’s Mobile Money account via WorldRemit?
Before sending money to a Mobile Money service using WorldRemit, please make sure that your recipient has a Mobile Money account. To do this, your recipient will need to create an account through their local Mobile Money agent.
What is the difference between Mobile Money and airtime topup?
Mobile Money is a way to store and manage money in an account linked to a mobile phone, similar to a bank account. Mobile Money users can send money to other people, pay bills, and purchase many things, including mobile airtime.
Airtime (also known as talk-time or mobile credit) is used to make phone-calls, send texts, or use data. Airtime cannot be used as money to purchase other items or pay bills.
Which countries can I send Mobile Money to?
Please select the region your recipient lives in to see if Mobile Money is an option there.