Mobile Money Is Changing The Game

in #yensesa6 years ago

It was announced on may 10th 2018 that the long awaited inter-operability between Ghana's mobile money systems is scheduled to begin. The project will be overseen by the Bank of Ghana and its electronic money subsidiary, the Ghana Inter-bank Payments and Settlements Systems. there is currently around 24 million active mobile money accounts who can now transfer money via their mobile phones across various networks. hitherto mobile money transactions have only been possible within each network – the telcos themselves are prepare this interchangeability opens the door for many local individuals and businesses to access bank like finances and relieve the reliance on paper money in Ghana. In 2017 the value of mobile money transactions increased by 98.5% up to about GHC 155.8 billion, with mobile money accounts holding about GHC 2.3 billion. the market up till now has been dominated by MTN and its 93.5% market share in 2017.

This dominance results from the fact that transfers weren't possible between different networks, nearly everyone wishing to use mobile money services was practically forced to use MTN since that was the only network where you could send to virtually everyone.

Now that we have interoperability @yensesa is even more useful to the Ghanaian people. Now when you cash out your steem you will be able to send it to any mobile money address you wish on any network. It is exciting to see that Ghana has already begun to embrace digital currency even before its truly accepted cryptocurrencues. With developments like this continuing to be implemented I believe Ghana will become a leader in the African digital money landscape. THis is all very exciting to our team because here @yensesa we strive to create an inclusive and accessible platform; with this level of integration our platform will be able to serve it users better and hopefully the giants in the industry continue to sway the market in a positive direction as we continue to grow.

If you are interested in investments i would say that MTN Ghana would be a great one to grab before this trend catches on because i am sure there will be a huge inflow of users coming with this and their news about pension plans for MM users

Thanks for reading and we hope you continue to support us here @yensesa

If you havent already please vote us as a witness

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Thanks for sharing this.

Thank for you updete information yensesa

Thanks for the update. I had anticipated this long time ago but was thinking it wouldnt be happening anytime soon. This is great for everyone. My only hopes are that, there wouldn't be extra charges on transactions.

yeah hopefully they can keep the charges to a minimum.

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