Mobile Money

Mobile money refers to a digital financial service that allows individuals to send, receive, and store money using their mobile phones. It enables users to perform transactions such as paying bills, purchasing goods, and transferring funds without needing a bank account. Mobile money services are particularly popular in regions with limited banking infrastructure, as they provide a convenient way for people to access financial services. Users typically download a mobile money app or use a service provided by a telecom company, which securely manages their funds using their mobile devices.