For the tech-savvy among us, using our phone for everything from booking holidays to making video calls comes naturally. But if you’re not familiar with using a smartphone, the thought of sending money online could be daunting. And there’s a lot of jargon, too.
Luckily, we’re experts in sending money – so here are the top seven things you need to know.
1. Mobile money: It’s exactly as it sounds: a service that allows people to send and receive money using their mobile phone. Whether you have the latest smartphone or even just a basic handset, mobile money is as easy as sending an SMS. From M-PESA in Kenya to MTN in Ghana to Tigo Money in El Salvador, mobile money is available in many countries worldwide.
2. Recipient: While the person who sends the money is known as the sender, you might think that the person you send it to would be the “receiver” – but in fact they’re usually known as the “recipient”. If you’re sending, you’ll be asked to enter the recipient’s mobile money number.