Mobile
phones is the technology that have spread the fastest throughout the world and
across East African countries especially Tanzania with the highest coverage
despite of the poor infrastructure. The mobile service is widely available and
mobile phone access and coverage available to every household .But only used
for main reasons of communication between the family members and friends (voice
and message services). The mobile phone has also showed to be a powerful
technical platform for banking services. It provides financial services that
can be delivered to people in rural areas without bank offices and at a low
cost. In sub-Saharan Africa, where the mobile penetration increased the most in
2011, only few population are connected to a formal Bank, These systems allows
a new type of money transfers; for the first time person-to-person transfers
enters the digitalization of money. It is now easy, efficient and immediate to
send money both to businesses as well as individuals. Settling debts, shopping,
paying salaries or sending.
.......By Faith Gabriella.
