Essay: Mobile Phone Payment System
It is of paramount importance to note that the use of mobile phones for money transfer is gaining popularity around the world and this is as a result of the flexibility of the service. One is able to do very many transactions by using his mobile phone without going to any shop. Buying airtime for your phone as well as for others is made easy as one can do it from the comfort of his or her sitting room. Businesses should gain a lot from the usage of this mode of payment since there are risks involved with one having to carry large amounts of money in the insecure cities of Africa. On the other hand business operators have the chance of doing business without having to deal with solid cash. Since the usage of phones to carry money around is more secure than carrying liquid cash, small business operators should embrace this mode of payment and they will reap benefits.
As is evidenced in the results one can conclude that small businesses in Africa are embracing mobile phone payment system. This can be attributed to the fact that the method is very easy to use and it happens to be convenient. It has taken in to account the literacy levels in most of Africa and a person needs simple knowledge of using a mobile to be able to transact. This gives a chance for the less educated to have a chance of transacting without having to give their personal details to anyone. It is of paramount importance to note that in order to use the service, one must have a PIN number, which he or she should keep secret and as a result the method is secure.