Can We Call It Evolution of Online Money Transfers in Senegal?

A few decades ago, mobile phones were merely used for communication purposes. But as technology evolved, this gadget became the solution to many different problems. Although there are various demerits of this evolution too, let’s be optimistic and focus on the ease that mobiles have brought in everyone’s lives. Even in African countries like Senegal, this trend increases. So when we call online remittances, ACE Money Transfer is one of the most efficient companies used to send money to Senegal.

As soon as the internet was allowed access to mobiles, many impossibilities were made possible. Advancements such as online shopping, mobile banking and other things, made it easy for people to get their tasks done with sitting in their couches. If we talk about Africa, then 12 years ago, an online money transfer system captured the attention of people in Kenya and in no time this trend spread like wildfire in the whole continent.

Why The Need to Send Money Online is Higher in Africa?

Most of the states in Africa are underdeveloped, that’s why the need to send money online is higher in this continent. Today, Africa has the highest number of mobile money transfers I,e; 46.7%. This highlights the importance of this evolution for the people living in Africa. The states such as Senegal, Ghana and Nigeria contribute most prominently in money transfers Africa.

Is Online Transfers Not To Stay For A Temporary Haul?

Reports demonstrated that there was more than 717 million mobile connection, solely in the Sub-Sahara region in 2007. Despite the low inclusion of financial sector, mobile phones were utilized highly in the continent. It emphasized the fact that Online Transfers are not to stay for a temporary haul in this densely populated continent. One of the primary reasons for such a wide acceptance of mobile banking was the lack of infrastructure in Africa. In many countries, there are no commercial banks or IMTOs available for the local people.

The people living in rural areas had to face many transportation barriers. It’ll be not wrong to say that the advent of online money transfer has changed the game of financial service sector totally. A major “hassle factor” was eliminated from money transfer service. Mobile wallets enable individuals to pay utility bills, transfer money from person to person, buy things online or pick up groceries. Just swipe your phone, and your task will be done!

Are Transfer Costs Reduced And Beneficial For The Providers?

For the betterment of the state, the remittance providers are collaborating with many financial sectors to provide insurance, credit and other facilities to the people. This service evaluated as a major success and facilitation for the people. Transfer costs were reduced, and no additional time was to be wasted for solely transferring some amounts. Other than local people, it also gave a beneficial edge to the providers, who want to do money transfer to Senegal and other African countries.

There are many companies and retailer banks which are providing online transfer portals in Africa. Their system is very user-friendly, which allows people to send money to Senegal online in three steps only.

  • Enter the Amount and Country
  • Enter the details of the recipient.
  • Your payment will be sent! You can track shipments by visiting company’s website or by using the given Transaction ID.