People in Kenya use mobile money to a large extent compare to cash. If you are wondering what if unfortunately you send money to the incorrect number. So let me tell you that in that case, you can reverse the transaction. Let us understand how to reverse Mpesa transaction for this you will have to follow the steps mentioned below.
Step 1: The moment you realize you have transferred money to the wrong Safaricom Mpesa number. You need to visit the SMS that you would have received from Safaricom.
Step 2: Now you will have to copy the transaction code and send the code to 456 numbers.
Step 3: Once you send the transaction code to Safaricom then they will do their best to reverse the amount.
It will better if you can process the above step immediately so that the wrong recipient does not withdraw the cash. Even if they withdraw cash then Safaricom will adjust the cash from their next transaction.
Mentioned below are 5 reasons that will explain why people in Kenya prefer mobile money.
No Need To Locate ATM
Looking out for ATM to withdraw cash at an unknown place is tiresome. Thus, the moment you visit some unknown places like Kenya where the use of mobile money is in full swing then you adapt to the norms of that place. This will also help you to regularize liquidity balancing. It can be said that the use of ATM is completely bypassed because of the use of mobile money in Kenya.
Reduced Transaction Cost
Before mobile money, the transaction cost involved in sending money over large distances was very high. With the introduction of mobile money, the transfer of money became cheaper.
Mobile money is easily accessible for people living as well as visiting Kenya. Compare to that you will find that looking out for cash is difficult in this place. To use your mobile money all that you need to have a mobile and a stable internet speed.
You will be amazed to know that because of the use of mobile money poverty has reduced in Kenya. And due to the rapid expansion of mobile money, almost two percent of Kenya households came out of extreme poverty.
Convenience And Speed
Think of a scenario where you need to pay in Kenya and you have mobile money available to you. Then you just need to scan then number and send the money as simple as that. But the only thing which needs to be considered is that have a good internet speed for complete transaction.