BotswanaPost has launched a new innovative service to its products and services offering dubbed ‘PosoMoney’. PosoMoney is a mobile wallet service that works on any phone and any mobile network.
PosoMoney users will be able to perform a host of different transactions such as:
Deposit cash into a PosoMoney account through any authorized PosoMoney Agent; Withdraw cash from any authorized PosoMoney Merchant or PosoMoney Agent; Send money from your mobile number to any number conveniently across all networks; Receive money from another customer; Pay utility bills; Purchase goods from PosoMoney Merchants; Top up airtime for your number or any other number on any mobile network; and Purchase prepaid electricity for any meter number.
The new service is available on all types of phones; that is both smartphones and feature phones. This is a deliberate move done by BotswanaPost in effort to provide financial services for Batswana across the country. PosoMoney leverages technology to address the financial inclusion challenges faced by the unbanked and the underbanked. Customer registration for this revolutionary service is hassle free as all that is required is a valid identity documentation, mobile phone and an active sim card. All registration is done at any Post Office.
Furthermore, PosoMoney also provides a business opportunity to potential and established entrepreneurs by going into a partnership with BotswanaPost to become PosoMoney Merchants and PosoMoney Agents.