Mobile Money allows sending, receiving and storing value without a traditional bank account. In West and Central Africa, the main operators are MTN MoMo, Orange Money, Wave and Moov Money. The ecosystem is regulated by regional central banks (BCEAO for UEMOA, BEAC for CEMAC) and national licences. For businesses, Mobile Money supports vendor payouts, day-worker payroll and reimbursements.
Yes. A Mobile Money transaction produces a verifiable unique identifier and receipt, valid as supporting evidence like any other payment method. Accounting-wise, posted in class 5 (cash) under a dedicated sub-account.
Ceilings depend on the account's KYC tier (basic, verified, merchant) and the operator. Merchant accounts accept significantly higher amounts than individual accounts. Check with your operator for exact thresholds.