Cameroon is one of the African countries that receives large amounts of money through the international remittance avenue as depicted in data compilations of 2015. 1.2 billion dollars was estimated to be the amount that came into Cameroon that year from those sending back to their people, this figure has doubled in the period of 2016 and 2017.
Revenue in form of remittance from beyond the borders has played a big role in the growth of the individuals living in Cameroon and the economy in general. https://fred.stlouisfed.org/series/DDOI11CMA156NWDB
Money transfer systems in Cameroon
People in Cameroon use mobile money as their major form of transfering money across the country because of the ability to send money instantly and the convenience it provides for users to receive their money wherever and whenever regardless of one’s location. https://www.mtncameroon.net/en/mtn-mobile-money/use-mtn-mobile-money/send-and-receive-money/
Many people living in rural areas in Cameroon depend on the money sent back home from loved ones and business partners abroad. Most prefer to receive their money using Cameroon’s mobile money platforms i.e MTN mobile money Cameroon and Orange money Cameroon, this is because mobile money stalls are more strategically located for the people as compared to banks that are more centrally situated and in most cases are not easily accessible for the majority living in rural areas. https://www.balancingact-africa.com/news/telecoms-en/39662/cameroon-mtn-and-orange-in-fierce-competition-over-mobile-money
Remittance companies that serve people have to tailor their services towards incorporating with mobile money services in the country so as to reach out to a larger number of people and attract more clients to use their platforms due to convenience of mobile payments.
One of the most proven ways for remittance companies to connect with mobile money in Cameroon is through Dusupay. Dusupay helps remittance companies pay out to the mobile money accounts of their clients therefore ensuring that these businesses efficiently serve the people with the lowest hustle possible.
How Dusupay works – https://www.youtube.com/watch?v=BiMzM84aB_U