For several services, people are increasingly dependent on mobile devices. When Apple launched its first iPhone, none had heard of an app. Fast forward 12 years and the App Store has almost four million applications available. You use them for everything right from booking a taxi to buying food and even learning a new language. It is difficult to imagine a phone without apps. They also have hours of fun, with games accounting for almost a quarter of all apps.
Helping people to send and receive money is one of the ways that mobile devices promote financial services. Figures released by the Industry Report show that in 2018, 866 million active mobile money accounts were registered in 90 countries.
Mobile banking applications often make it much simpler for ex-pats to remit to India to their loved ones because the whole process is more secure and comfortable.
Save time
Convenience is one of the critical advantages of mobile banking apps because it allows clients the benefit of sending money whenever they need to, wherever they are.
You can now complete a transaction on your mobile device from the comfort of your home, thanks to mobile banking apps. You only need an internet connection to coordinate a mobile money transfer once you have downloaded the app.
Sending bank remittance through a mobile money transfer app frees up time you can devote to the essential things in life, such as hanging out with friends or indulging in a hobby and minimizes disruption, such as having to leave work early.
Simple and secure way to transfer money
It is quick and convenient to do payment remittances using a mobile money transfer app. The apps are created to be user-friendly, so you should use them even if you are not tech-savvy. As you complete all your transactions inside the app without accessing an external website, they are also secure.
You should consider other ways of securing your mobile device, in addition to a PIN, for more peace of mind. That means they will have a much harder time accessing it if someone steals your mobile.
Keep a record of the money remitted
Mobile banking applications help you calculate the money that you transfer and keep a record of it. Now from within the app, you can view a record of your transactions. This unique function helps control the finances of both the sender and the receiver. Based on how much you can afford or how desperately the cash is needed, you can track the amount you send home and raise or decrease it.