It is a purphase, transfer and payment solution that allows you to perform transactions with your phone number.
The concept is simple: the Mobile Money account holder can send money quickly, safely and directly to friends and family. The SIM Card is like your Bank Card, secured with a PIN and your Phone number like your bank account number.
Advantage of Mobile money in opposition to common bank account is that you can transfer money to someone holder of Mobile Money account or not.
From your Mobile Money Account, you can buy airtime for you or friends. You can also pay bills (Electricity, Tuition fees, TV, Tax…).
With Mobile Money, banking has no geographical limitation anymore. Almost everybody has a phone number and thus a Mobile “bank” Account!