What is PosoMoney?
PosoMoney is an innovative mobile phone based financial service offered by BotswanaPost that offers a wide range of cross-functional solutions. These include mobile money transfers, banking and payment services. PosoMoney is fully interoperable, it works on any phone and any network.
To enjoy PosoMoney all you need is a mobile phone and an active sim card. PosoMoney service provides mobile wallet services via fully patented and encrypted SMS technology, which is at the leading edge of the fintech wave transforming the global financial services market.
PosoMoney offers you:
- Convenience: PosoMoney is available in all post offices, PosoMoney Agents and PosoMoney Merchants located across the country. PosoMoney operates across any network.
- Security: PosoMoney requires your registered PosoMoney mobile number and self-activated PIN. Every transaction is effected by SMS and authorised with a PIN. PosoMoney technology does not store information as it is highly encrypted. In addition, there is only one wallet linked to an account. BotswanaPost has a strict policy on anti-money laundering. In the event that a phone is lost or stolen, money can only be recovered upon replacement of the SIM card and the hard coded application which requires the physical presence of the owner and production of a valid identification documentation.
- Simplicity: PosoMoney is relatively easy to use and anyone can be a PosoMoney account holder as long as you have a valid identification document (Omang for Batswana citizens and Passport for non-citizens). In the event that a minor wishes to register for PosoMoney provision of their respective guardian will suffice.
PosoMoney allows you to:
- Deposit money to a customer wallet through an authorised PosoMoney Agent.
- Send money from your PosoMoney account to any other number conveniently across all networks.
- Receive money from another PosoMoney customer.
- Withdraw money from any authorised PosoMoney Agent countrywide.
- Purchase prepaid services like airtime top up for any mobile network or prepaid electricity for any meter number.
- Pay utility bills.
- Pay for goods and services at PosoMoney registered merchants.