Mobile Money

From The Right Wiki
(Redirected from African MobileMoney)
Jump to navigationJump to search
African MobileMoney
Operating areaAfrica

Mobile Money is a mobile payments system based on accounts held by a mobile operator and accessible from subscribers' mobile phones. The conversion of cash into electronic value (and vice versa) happens at retail stores (or agents). All transactions are authorised and recorded in real-time using SMS.

File:MTN MoMo stand, Korle-Klottey (P1090857).jpg
MTN Mobile Money agent's stand in Ghana

In 2008, a Ugandan software developer named Ronald Egesa of Mobitrix Uganda Ltd was reported by the leading newspapers to have developed the country's first mobile phone bank that he called SmartCash [1] It was reported to be a network independent service. In 2009, GSMA made a grant to Safaricom to support the development of a social transfer payment project via M-Pesa.[2] M-PESA was developed by Vodafone and first deployed by its Kenyan affiliate Safaricom. In May 2012, there were over 15 million customers of M-PESA in Kenya.

Countries with a Mobile Money Presence

Current Mobile Money Presence in African Countries[3]
Currency ISO Country Currency
XOF File:Flag of Benin.svg Benin CFA franc
BWP File:Flag of Botswana.svg Botswana Botswana pula
XOF File:Flag of Burkina Faso.svg Burkina Faso CFA franc
BIF File:Flag of Burundi.svg Burundi Burundi franc
XAF File:Flag of Cameroon.svg Cameroon CFA franc
XAF File:Flag of Chad.svg Chad CFA franc
CDF File:Flag of the Democratic Republic of the Congo.svg Democratic Republic of the Congo Congolese franc
EGP File:Flag of Egypt.svg Egypt Egyptian pound
ETB File:Flag of Ethiopia.svg Ethiopia Ethiopian birr
XAF File:Flag of Gabon.svg Gabon CFA franc
GHS File:Flag of Ghana.svg Ghana Ghanaian cedi
GNF File:Flag of Guinea.svg Guinea Guinean franc
XOF File:Flag of Guinea-Bissau.svg Guinea-Bissau CFA franc
XOF File:Flag of Côte d'Ivoire.svg Ivory Coast CFA franc
KES File:Flag of Kenya.svg Kenya Kenyan shilling
LSL File:Flag of Lesotho.svg Lesotho Lesotho loti
LRD File:Flag of Liberia.svg Liberia Liberian dollar
MGA File:Flag of Madagascar.svg Madagascar Malagasy ariary
MWK File:Flag of Malawi.svg Malawi Malawian kwacha
XOF File:Flag of Mali.svg Mali CFA franc
MRO File:Flag of Mauritania.svg Mauritania Mauritanian ouguiya
MUR File:Flag of Mauritius.svg Mauritius Mauritian rupee
MAD File:Flag of Morocco.svg Morocco Moroccan dirham
MZN File:Flag of Mozambique.svg Mozambique Mozambican metical
NAD File:Flag of Namibia.svg Namibia Namibian dollar
XOF File:Flag of Niger.svg Niger CFA franc
NGN File:Flag of Nigeria.svg Nigeria Nigerian naira
RWF File:Flag of Rwanda.svg Rwanda Rwandan franc
XOF File:Flag of Senegal.svg Senegal CFA franc
SLL File:Flag of Sierra Leone.svg Sierra Leone Sierra Leonean leone
SOS File:Flag of Somalia.svg Somalia shilling
ZAR File:Flag of South Africa.svg South Africa South African rand
SDG File:Flag of Sudan.svg Sudan Sudanese pound
SZL File:Flag of Eswatini.svg Swaziland Swazi lilangeni
TZS File:Flag of Tanzania.svg Tanzania Tanzanian shilling
XOF File:Flag of Togo (3-2).svg Togo CFA franc
TND File:Flag of Tunisia.svg Tunisia Tunisian dinar
UGX File:Flag of Uganda.svg Uganda Ugandan shilling
ZMW File:Flag of Zambia.svg Zambia Zambian kwacha
ZWD File:Flag of Zimbabwe.svg Zimbabwe Zimbabwean dollar

References

  1. ↑ SmartCash"SmartCash".
  2. ↑ M-PESA"M-Pesa".
  3. ↑ "Mobile Money". GSMA. Retrieved 6 February 2015.
Retrieved from "https://rightwiki.org/index.php?title=Mobile_Money&oldid=9864412"