• Registered sim cards do not perform reverse transactions.
• Ignorant business owners are at risk.
• There is no extra charge on customers.
Mobile Money Business Association of Zambia has advised traders to use registered mobile money agent numbers for business transactions to avoid being swindled.
Speaking in an interview with Money FM News, Association Secretary General Chris Sinchende said registered agent sim cards cannot perform reverse transactions, hence this reduces and eradicates the number of swindling cases in their businesses.
“Those who are trading using mobile money transactions are not supposed to use normal sim cards, they are supposed to use an agent line because with an agent line, there is nothing like a transaction reversal,” he said.
“So if they are operating a shop what they are supposed to do, everyone who is trading with mobile money, they are supposed to use what is known as an agent line the same agent line that is used by the people found in mobile money booths.”
Mr. Sinchende noted that most fraud cases involving reversal of mobile money transactions by customers are due to a level of ignorance by some business owners who opt to use their personal sim cards instead of a registered mobile money agent line.
He added that registered mobile money agent lines are convenient for both the customer and business owner because the client will also not be required to add an extra charge when paying for their goods and services as it is done in most scenarios.
Mr. Sinchende said, “If money is sent there is no extra charge, the good part of using an agent line for business like for those in trading is that they are not going to charge a customer extra charge for withdraws.”