Electronic money represents a claim on its issuer and is issued in exchange for funds. It should not be confused with mobile airtime credit.
Mobile money
In a nutshell
Mobile money allows people to hold and use electronic money through a phone, including to make payments or transfer funds.
On this page
Explained simply
A practical example
Hypothetical example: a person deposits CFA 10,000 with an agent, then uses their mobile wallet to pay a merchant, subject to the service’s fees.
Further reading
Source: BCEAO — Electronic money.
Try it yourself
Compare two situations
Choose a situation to see its outcome, then test your understanding.
What this means
If the sender pays the fee on top, the debit is CFA 10,100. Actual terms depend on the service.
Educational scenarios. Amounts and rates are fictional, not current market conditions.