Give four reasons for the increased use of mobile phones in banking

Give four reasons for the increased use of mobile phones in banking. (4mks)

  1. Fast in transacting business
  2. Reduce s paper work
  3. May be used to pay utility bills
  4. One can access account balance
  5. Safe to use (use of secret pin) i.e. reduce risk of carrying cash
  6. May be used to buy airtime
  7. Easy transfer of funds from one account to another
  8. Easy to  monitor ones financial transactors details
  9. Easy transfer of money from account to phone for other transactions.

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