Mobilizing Remittances – The Basics

Introduction In previous articles we discussed the basics of remittances, including the use of airtime top-ups as a form of remittance. Remittances are primarily sent from developed countries and received in developing countries, and are familiar to migrants in the diaspora who use them as a means to send money to their family back in their home country. Most people would be familiar with the bricks and mortar method of making cash remittance transactions, by visiting a Money Transfer Office […]

What is an Airtime Top-Up? – The Basics

Let’s start with the Basics: When you connect a mobile phone to a network (a Telecommunication Provider) you need to purchase credits to enable you to use that Telco network’s Airtime. Airtime allows you to access the network’s service offerings, voice, data, sms etc. A Top-Up is referred to as ‘adding more credit / value / currency’ to a mobile phone’s service. How do you make an Airtime Top-up? For Postpaid Phone Services, this generally occurs either automatically via direct […]

What is a Remittance? – The Basics

What is a Remittance? If we were to look at the dictionary definition of the word ‘remittance’, it refers to money that is sent as payment or as a gift. The act of paying for the purchase you are making is the remittance. There are a number of other words that are often used interchangeably with the term ‘remittance.’ These include: remuneration, compensation, consideration, recompense and payment. You’ve probably heard any number of these words more frequently than you’ve heard […]

Mobile and Online Payments, Wallets, Money, Banking – differences? – The Basics

What Are the Differences Between Mobile Payments, Mobile Wallet and Mobile Banking? Mobile marketing and commerce is becoming the most important avenue to market to and transact with your customers in the modern world. This type of marketing involves the use of any mobile device, predominantly smartphones and tablets, to complete various types of transactions. These can include mobile payments, mobile banking, mobile money and much more. Each allows you to use your mobile device in the way that you […]

What’s a Digital Wallet Anyway? – The Basics

Applications of Digital Wallets Times are definitely changing around the world and the shopping environment has certainly seen some. It used to be that everything you might want had to be made by hand and even perhaps bartered to finalise the transaction. This advanced to a system using actual gold coins then to the use of paper currency. Over time we came to have stores where everything could be purchased. We then found a way to simplify the shopping process […]

Non-bank PrePaid Gift and Debit Cards – The Basics

LoadHub Canada – What It Is, How It Works, and The Customer Experience There is quite a bit of knowledge about some of the more popular prepaid cards including Visa, MasterCard and American Express. On offer are regular credit cards and (for a fee), prepaid ones that will allow you to load money and spend it anywhere you want. A prepaid card is like a gift card but it’s usable anywhere you want to spend or transact instead of being […]

Mobile Money Security – The Basics

Mobile Money Security With the increased prevalence of mobile money, new issues have begun to arise – one of the biggest, how safe these methods of payment really are. You no longer need to use cash or even a physical credit card to make payments, but is that actually making the entire process easier or more complicated and less secure? It’s difficult to say. In some instances many providers of these payment methods have begun working to enhance security and […]