5 Big Benefits & Reasons to Use Mobile Money Transfer

5 Big Benefits & Reasons to Use Mobile Money Transfer
Photo by Jack Sparrow from Pexels

Mobile money transfer is quick, hassle-free, and secure. It makes your life easy, saves your time & does not incur any extra charges. Whether you want to transfer money, pay back a friend, make online payments or send money abroad, mobile money transfer can do it all!

Additionally, smartphones' evolution has opened up new avenues for commercial banks and financial institutions to thrive. You can now access your financial records round the clock and monitor every transaction in real-time. It gives you a safety advantage & you can track frauds far more quickly.

The mobile money transfer is also perfect for those who want to track their monthly spending to know when to slow down. If you are still sticking to your old school approach, here are five big reasons to make a switch:

  1. Save Time: The best part of using a mobile money transfer app is time-saving. You don’t need to visit your nearest bank branch and wait for your turn standing in a queue that takes up your entire lunch hour. With a secure mobile app, you can send and receive money instantly without having to leave the comfort of your couch.
  2. 24x7 Access: There is absolutely no time limit when you are using a mobile money transfer. It is especially useful when you are faced with an emergency and need to make bill payments or transfer money urgently. Even if you need cash at 2:00 a.m., you don’t have to wait until 9:00 am for the bank to open. If a dear one living abroad needs money, you can use your smartphone and transfer the money with the click of a button!
  3. Make Payments with Zero Transaction Charges: Whether you are buying something big or small, you don’t need to carry your wallet! If you have your phone, you can make any transaction. Forget the hassle of going to an ATM or swiping your card when you have mobile money. That’s not all - mobile money transfer does not charge you a single penny for a transaction. You can make an unplanned purchase and process payments even when you do not have any cash handy!
  4. Ensure Safety at all Times: Using mobile money transfer is much safer in catastrophic times. Currently, due to the global pandemic, people prefer to make contactless payments. Governments are also emphasizing mobile wallets over cash as they are much safer than paper money, which can accumulate and spread germs. Electronic transactions prevent direct contact between people and make it easy for everyone to stay alert and careful when shopping for essentials.
  5. Security Against Theft: Your hard cash is always vulnerable to theft. However, with mobile money transfer, all your earnings and savings exist virtually with password protection. Mobile money apps restrict access to your money, so even if your smartphone gets stolen with your money transfer app in it, you need not worry. All you need to do is inform your service provider and have your sim and phone replaced.

The latest mobile money transfer solution has stringent measures to limit mobile money frauds like encryption of user information, provision of identification for every cash transaction made, and use of PINs and passwords. Smartphone service providers can also track down financial frauds and block your sim card from making any further transaction when reported. You don’t get the same security for hard cash. Do you?!

Mobile Money Transfer Solution Makes Perfect Sense in this Tech-Savvy Era

Carrying cash always comes with its share of challenges, like keeping it safe, especially when traveling. The amount is significant. On the other hand, your mobile money is both portable and virtual. Once a mobile money app is installed on your phone, you can carry your money with you wherever you go. Besides, mobile money transfer apps come with cashback offers, rewards, discounts, and promotions for their esteemed users!

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