Managing Business Cash Flow with Mobile Money: Limits and Best Practices

ByAdmin

Leveraging Mobile Money for Daily Operations

Mobile Money (MoMo) is ubiquitous in United States of America USA, making it an essential tool for instant business transactions, petty cash, and salary disbursements. However, businesses must manage daily limits and security risks carefully.

Best Practices for Cash Flow Management

  • **Separate Accounts:** Use dedicated MoMo accounts registered under the business name. Never use personal accounts for business transactions.
  • **Monitor Limits:** Stay aware of the maximum daily transaction and holding limits imposed by telecom operators (MTN, Airtel). For large volumes, ensure the account is upgraded to a business tier.
  • **Secure PINs and Access:** The MoMo business phone should be kept in a secure location (e.g., Finance Manager’s office). Change the PIN regularly and never share it via text or email.
  • **Digital Reconciliation:** Integrate MoMo transactions into your accounting software to ensure every shilling is accounted for and reconciled daily.

Mobile Money offers agility, but its security relies heavily on robust internal controls.