Transactions & Payment Options

Mobile payments are transactions conducted using mobile devices. To utilise mobile payments, you need to have an active, registered mobile money account with sufficient funds to pay for the services. All the mobile money providers (Orange Money, MyZaka, and Smega), allow their users to directly make payments for a range of services using their mobile devices.

The services available for mobile payments include:

• Airtime top-ups

• Data bundles and internet packages

• Insurance premiums, for instance, Botswana Life, Hollard, and more

• Utility bills, such as Water Utilities

• BPC Prepaid Electricity

• DSTV subscriptions

• Plus many more options

To explore the variety of payment options available to you, we recommend that you log in to your mobile money account. The options provided will depend on your service provider. Be aware that while the providers offer similar payment choices, there can be some slight variations between them.

Card payments involve transactions carried out through a Visa Card, which is linked to an individual's mobile money account. The Visa Card issued by your mobile money service can be used for both local and international payments, as well as online transactions.

In the present-day Botswana, card payments have become widely accepted. Most well-established businesses readily accept card payments, and increasingly, small-scale businesses are also opting for this payment method. This shift has reduced the need to carry physical cash.

By successfully integrating internationally recognized Visa cards with local mobile money services, the service providers have opened up a world of opportunities for mobile money users.

Local money transfers pertain to the transmission of funds within Botswana. With a mobile money account, you have the facility to transfer money instantly at a reasonable rate, 24/7. It serves as a convenient option for those needing to send funds to family, friends, or to conduct business operations within the country.

However, it's crucial for users to note that direct transfers can only be made between accounts using the same mobile money service provider. For example, should you be using Smega, your transaction must be with another Smega account. Similarly, if you're on MyZaka, you can only transfer to another MyZaka account.

Yet, there is a provision for sending funds to recipients using a different mobile money service. For instance, if you're using Orange Money, it's possible to send money to a Smega user. In such cases, the recipient won't receive the transfer directly into their account. Instead, they'll receive a secure code, allowing them to collect the money from a designated mobile money agent.

International transfers provide the capability to send or receive money beyond the borders of Botswana. Through mobile money accounts, users can conveniently carry out cross-border transactions without relying on traditional banking institutions. However, it's worth noting that the transaction fees for international transfers may vary, depending upon both the service provider and the country involved in the transaction. Thus, users are strongly encouraged to review the rates and terms offered by their mobile money service prior to executing the transaction.

In line with other mobile money transactions, you will receive a notification detailing the total cost of the international transfer before you confirm the transaction. It's also important to know that the available countries and providers for money transfers may vary depending on the specific service you are using. Commonly included countries span across the African continent such as South Africa, Zimbabwe, Zambia, Kenya, amongst others, and extend even overseas to countries like Australia, Bangladesh, and more. Therefore, we recommend regularly logging into your mobile money account to explore and understand the options available to you. This service is an excellent solution for a variety of individuals, including those studying abroad, expatriates, or individuals with international business interests.

The Bank to Wallet feature enables users to conveniently move money directly from their bank account into their mobile money account. This is an excellent feature for those who wish to have readily accessible funds in their digital wallet, offering greater convenience and instantaneous transaction capability.

Bank to Wallet is currently supported by the following Banks:

• Standard Bank

• Access Bank

• ABSA

To initiate the transfer, users must navigate to their bank's online platform or app and choose the option to send money to a mobile wallet. Each bank may have a different name for this feature, such as "Mobile Money Link," "Transfer to Digital Wallet," or simply "Money Transfer." Users must enter the necessary details such as the mobile money account number, the amount to be transferred, and possibly even the service provider's name (e.g. MyZaka, Orange Money). Once completed, the funds will be transferred from the bank account and credited into the mobile money account.

It's important to note that this service might attract a minimal fee, which often depends on the bank's policies and the amount being transferred. As a user, always check the fee structure.

The Wallet to Bank service offers the flexibility to transfer money from your mobile money account directly into your bank account. This may be useful when you need to make large transactions that surpass mobile money account limits or when you want to deposit money into your bank account for other financial purposes like savings, investments, or loan repayments.

Presently, this feature is a recent addition to mobile money services and is not universally supported by all banks. It currently operates with the following combinations:

• Smega to Standard Bank

• Orange Money to First Capital

To initiate such a transfer, you start by logging into your mobile money account. Look out for the option that permits these transfers - usually categorised as "Transfer to Bank," "Send to Bank," or similarly labelled. Once there, enter the relevant details, which most commonly include your bank account number and the desired transfer amount.

Once you complete the details and confirm the transaction, your funds will be moved from your mobile wallet to your bank account.

By facilitating these two-way transfers between mobile money accounts and traditional bank accounts, mobile money services allow users the flexibility to manage their funds as they see fit, enjoying the convenience of digital transactions without entirely foregoing the familiarity of their established banking routines. Users are encouraged to check and understand their service providers' specific terms and conditions around these transfer services.

The evolution of mobile money services in Botswana has led to the introduction of several innovative features, offering a more comprehensive financial solution to users.

Let's take a look at some additional features:

• Micro-loan Facility: A significant add-on offered by Orange Money, MyZaka, and Smega is an integrated micro-loan facility. This feature empowers individuals to borrow modest sums, typically less than P2000, to support their immediate financial needs. The application process is easy and quick, reflecting the service providers' commitment to instant financial assistance. However, do note that borrowing is contingent upon the user's ability to repay, thereby encouraging responsible financial decision-making. It's essential to understand the terms, conditions, and interest rates that come along with such loans to make a well-informed decision.

• Motshelo Account: Smega offers the Motshelo Account, a unique product designed to digitise the traditional practice of group savings. This product is specifically designed to support individuals, societies, and other entities engaged in group savings, to effectively manage their collective funds through Smega's user-friendly platform. The Motselo Account enhances community cooperation and financial security by making it easier for groups to manage their pooled money together.

• Funeral Plans: Smega is broadening its service portfolio with the thoughtful introduction of a new product, the Karabo Funeral Plan. This plan acknowledges and fulfills the need for financial assistance during the unexpected event of a death. Carefully designed to alleviate the financial stress related to funeral preparations and arrangements, it allows for an intelligent way to plan for the unpredictable. By facilitating affordable monthly contributions from your Smega account, the plan ensures your financial security even in times of grief.

These added features mark significant progress in the products and services offered by mobile money services. We highly recommend both current and prospective users to regularly update themselves on their mobile money service provider's offerings to fully comprehend the benefits of these services.