The Rise Of Mobile Money Transactions

The Rise Of Mobile Money Transactions

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Mimages-2obile Money transaction is a fast, simple, convenient and secured way of transferring, receiving and making payments. All that is needed to register for Mobile Money is a valid identification card.Screen-Shot-2015-04-19-at-9.56.47-AM

Mobile Money transaction has become a more convenient and preferable means of transaction in Ghana. Students, petty traders and other non-salary workers are known to be regular users of the transaction. This is because it is more efficient, fast, and easy way of transferring money.

In an interview with a cashier of ARB Apex Bank-Osu, Miss Joyce, she noted that their banking service is basically for the rural community, and this could explain why they now partnered with a telecommunication network in Ghana, Airtel to enhance a secure and convenient transactions for their customers.

Moimages-10st people have adopted this mode of transaction making banking transaction a second alternative. As a result of that, many banks now partner with service providers in the country such as MTN, Airtel, Tigo and Vodafone who offer Mobile Money transactions to allow customers operate the service in their banks. Some customers now pay their bills for water, electricity, DSTV and, even school images-3fees.

According to reports, MTN Ghana limited records GHS 18.5 million transactions on its flagship mobile money services every month across the country. The Mobile Money transaction came into existence in 2009 and has since registered millions of customers of which 25 percent are students.

Story: Bediako Roselyn (level 300) and

        Solomon Acheampong (Dip 1B)

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