Mobile money transfer or remittance is ‘a peer-to-peer (P2P) application making use of a mobile device to send money to family or friends, primarily across international borders. Usually, mobile money is a term used to describe services that allow electronic money transactions over a mobile device. It is also referred to as mobile financial services, mobile wallets, and mobile payments. For the purpose of this white paper, we shall consider mobile money to be a system of electronic payments that allows cross-border money transfers to any country. It also includes the withdrawal of funds in local currency (cash out) via the mobile money service or mobile airtime.