How To Send Mobile Money Transfers To Kenya

What is a mobile wallet?

In the last few years the term mobile wallet has emerged in the realm of remittances. Have you ever wondered what is a mobile wallet? First let us cover some ground on mobile money and the technology that enables it. Mobile money means the digital transfer of funds from one person to another while mobile wallets are the means of transfer. Also known as digital wallets, mobile wallets use the power of mobile phones to store, send and receive money. Similar to the physical wallets that we carry, mobile wallets can digitally store other means of payment such as debit cards and credit cards.

When we talk about mobile money and digital wallets, we’re really referring to the same thing – digital money supported by a country’s mobile phone network which can be used anywhere there is a mobile phone signal.

Kenya is a world leader when it comes to mobile money technology and mobile money transfers.
Let’s see how mobile wallets work and how to send money to Kenya digitally.

How does a mobile wallet work?

Each mobile money user will have a unique account number associated with their phone. This is usually the same as their phone number and the mobile money is stored in a secure electronic account that is linked to the number. The user will access the account via a mobile money app on their phone and use the digital wallet to transfer money to another party or pay for items.

To receive money, the recipient will also have downloaded an app and installed a digital wallet on their phone. The sender just needs to visit an agent and provide the receiver’s mobile number and the required amount. The money will then appear in the receiver’s wallet instantly. Because you can transfer money quickly and simply, mobile wallets are now one of the fastest and most popular remittance channels.

Easy mobile money transfers with Xpress Money

Kenya has a very high mobile phone penetration – 91% according to Jumia’s Kenya Mobile Report 2019 – and it benefits from M-PESA, one of the world’s most successful mobile money platforms.

Launched in Kenya in 2007, M-PESA was designed for microfinance but quickly became popular for remittances. Today a vast majority of households in Kenya have at least one mobile money account, which has helped improve financial inclusion.

If you want to send mobile money to Kenya, it is fast and straightforward with Xpress Money. Over the years millions of customers have been connected through mobile money transfers with Xpress Money’s huge network of locations across Kenya.

Is a mobile wallet safe?

If the thought ‘is a mobile wallet safe’ has ever crossed your mind rest assured mobile wallets are more secure than physical ones because your money and cards can’t be stolen by a pickpocket. Nor will you lose cash and cards if you forget where you left your wallet or if you accidentally drop it somewhere. Mobile wallets have several layers of security and are protected by increasingly sophisticated measures such as multi-factor authentication, tokenisation and biometric recognition.

Convenience and connectivity at its best

Mobile money technology is revolutionising the way people deal with money and Xpress Money is playing a big part in this transformation by conveniently connecting people in Kenya and across Africa.