If ever a gap exists between mainstream banking and mobile money in Liberia, it shows itself through amazing possibilities, average levels of efficiency, leaving much to be desired especially in savings of money’s most priceless value — time. It’s a trifecta of strategic Mobile Money services that could mean a significant spike in market share for the company’s platform. The service enables Mobile Money subscribers to make payments for goods and services at any Mobile Money acceptance point using the Mobile Pay stickers. Mobile Money is working in partnership with major commercial banks to offer an integrated service that allows Mobile Money subscribers to “Pull Money” from their bank accounts onto their Mobile Money Wallets and to “Push Money” from their Mobile Money Wallets to their bank accounts from the comfort of their homes and offices. Finally, though certainly not least, Lonestar Cell MTN Mobile Money signed a proof of concept agreement in September 2017 for mobile payment with the Liberia Revenue Authority (LRA) for the acceptance of tax payment via Mobile Money.

Source: Daily Observer April 06, 2018 02:26 UTC