A member of the E-levy technical team, Patrick Frimpong Danso has revealed that sending money to a third party through a ‘momo’ vendor is ‘illegal’. Though he agrees that it is a common practised which has been going on for years, it remains an ‘illegality’. “This thing has been happening for a long time but many don’t know it is illegal”, he said.
He said the practise has gone up in recent times as people are desperate to avoid the 1.5% electronic transaction levy charged on “momo” and other electronic transactions.
According to him, “you can’t go to a vendor and say take Ghc200 and send it to my mother in the village. When you go to a vendor, you are supposed to do two things, one is to do a cash-out or a cash-in. Either you are withdrawing money or you are putting money in you wallet” he said. He revealed that they are developing a technology which will be used to stop people from sending money to other people through vendors.
This technology will make it impossible for vendors to send money to a mobile money wallet that does not fall within a given radius, he disclosed.
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