What is International Fund Transfer via M-pesa Mobile Banking Services

There are many international corporations which deal in microfinance and are operating in African countries like Tanzania and Dar Es Salaam. Such international corporations offer micro-loans to the needy people of Tanzania and Dar Es Salaam through mobile banking. Customers can easily avail these micro-loans sitting anywhere and anytime following few simple instructions. These corporations are connected to all major mobile service providers like Vodacom and Airtel in Tanzania as well as Dar Es Salaam to support smooth money transfer.

These telecoms service providers are in business with M-pesa, which further provides money transfer services through mobile banking. M-Pesa basically allows us to transfer or receive money through mobile phone in private and secure manner. There are various utilities that can be handled using this service like:

• Bill payments
• Receive money from micro loans
• Share money with friends/family
• Savings

But, there are few requirements which you need to fulfill before availing M-pesa service like:

• One should have a national identification card required to open M-Pesa account and complete the registration process.
• There is no need of any bank account or application form to complete the registration process.
• After the completion of registration process, one can easily receive money in the form of micro-loans.
• To confirm the transaction, the mobile service provider sends a confirmation message to the sender as well as the receiver of microloan, which can further act as payment receipt.

        Benefits of money transfer through M-Pesa account:

• Private: Any type of data, which is related to transactions made through M-Pesa mobile banking services, remains private. Only sender and the receiver get a confirmation message.

• Safe and Security: Money transfer on the mobile phone will reduce the risk followed by manual bank transaction. Moreover, the transactions are fast hence increasing the safety and security of your money.

• Supporting the unbanked: There are many people in Tanzania and Dar Es salaam who cannot avail banking services due to poverty. Banking through mobile phone will reduce the operational cost, offering flexible and affordable financial services to these needy people.

 L-Pesa micro-finance is one of the international corporation, which provide micro loans to the needy people of Tanzania and Dar Es Salaam using M-Pesa mobile banking services. All you need to do is register your mobile number with L-Pesa and apply for micro loan. The registration process is open for now. To know more about L-Pesa micro finance registration process and its services, visit www.l-pesa.com .