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What is Mobile Money?

Mobile money is a form of digital money. Instead of a bank account and a card, people get a mobile money wallet connected to their phone number. When users sign up for a mobile money account with their Mobile Money Operator (MMO), they go through a Know Your Customer (KYC) process, similar to opening a bank account. Unlike traditional banking, mobile money relies on an agent network rather than ATMs and branches. Instead of a bank account number or IBAN, the wallet is identified by the user’s phone number. Mobile money enables users to:
  • Send and receive funds from other mobile money users
  • Pay bills
  • Shop online
  • Receive salaries

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Mobile Money Wallet Limits

Mobile money wallets have transaction limits similar to modern bank accounts. The most important limits are:
  • Number of payments per day, week, or month
  • Value of payments per day, week, or month
  • Maximum balance allowed in the wallet
Users can increase these limits by completing extended KYC verification with their MMO.

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What Does a Payment Look Like?

Mobile money payments are not like classic card payments. They’re more similar to A2A or 3-D Secure transactions where user authorisation is required.

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Payment Authorisation Process

When a user initiates a payment:
  1. They must enter their mobile money PIN code
  2. This code is only known by the user and the MMO
  3. The merchant is not involved in this process
The user receives an SMS receipt for any balance change, making mobile money payments: ✅ Highly secure
✅ Low fraud risk
✅ Minimal chargebacks

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Technical Implications

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1. Expanded Infrastructure

Each payment involves:
  • Server infrastructure
  • Internet connectivity
  • Cellular networks
  • USSD gateways
  • SIM toolkit
This makes mobile money accessible even on basic feature phones.

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2. User-Centric Processing

The user must:
  • Have their phone ready
  • Respond within a time limit
  • Remember their PIN
Interruptions (e.g., phone calls, dismissing prompts) can cause failures.

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Summary

Mobile money is:
  • ✅ Secure
  • ✅ Accessible
  • ⚠️ Requires careful user experience design for high success rates

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How getmipay Helps

With the getmipay Merchant API, you can integrate mobile money into your business with ease:

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✅ Collection

Move money from a customer’s wallet to your getmipay account.

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✅ Disbursement

Disburse money from your getmipay account to a customer’s mobile wallet.

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✅ Refunds

Send money back to a customer from your getmipay account.
With getmipay, you can build flexible, secure, and scalable mobile money integrations.