HOW TO – Start a Mobile Money Business

This is a good piece of information

The Wire Perspective

Mobile Money (MM) is a form of electronic money service that enables phone owners send, receive and store money. The relative safety, ease of mobility and convenient nature of this service has endeared it to all sections of the society from the rich to the poor.

Before we proceed, it is important that we familiarise ourselves with some terminologies.

Agent: A person or business that is contracted to facilitate transactions for users. The most important of these are cash-in and cash-out (i.e loading and withdrawing money onto/from the MM system). They sometimes register new users, a service that earns them extra commission. As front line personnel, they also teach users how to best use the service.

mobile_money_agent A Mobile Money agent in Kyebando, Kampala, Uganda

Aggregator: A person or business that is responsible for recruiting new MM agents. This role is sometimes combined with that of a Master Agent.

E-Money: Known…

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