Mobile money is here to stay.
Subsequently it'll be a battle between fintechs and PSBs (payment service banks and mobile money providers like MTN, Etisalat etc.)
In countries like Ghana and Tanzania and Kenya etc. mobile money is so dominant, they use nothing but mobile money for transactions, even churches and bars use mobile money.
Let me paint you a scenario, transferring money with your bank's USSD will cost you but transferring using MTN's momo will be free, this guys will make every store or kiosk owner a momo agent offering deposit and withdrawal using USSD.
This will include more people financially.
In Ghana if you purchase airtime on the MTN momo platform you can convert the excess back to cash, you can send and receive money using your phone number, and alot of other ease it offers users.
Make we dey watch.
Unless we all abandon it due to E-levy and take things back to carrying around cash.
Inovation just got better. Evolution is just a vicious circle. It never ends. Thanks
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