What is a wallet-to-wallet transaction?

A wallet-to-wallet transaction refers to the transfer of funds from one electronic wallet to another. In this context, the wallet refers to a digital application that allows you to store, send and receive digital assets.

The importance of wallet-to wallet transactions through MBongo

The inclusion of a wallet-to-wallet transaction service in a payment app brings several important benefits and features to users. Here are some of the key reasons why a wallet-to-wallet transaction service is significant-

Convenient one-on-one transaction– Wallet-to-wallet transactions through MBongo enable users to transfer funds or digital assets seamlessly. It eliminates the need for traditional intermediaries like banks or payment processors, allowing individuals to send and receive money directly from their wallets. This convenience is particularly useful when splitting bills, repaying friends, or engaging in other informal transactions.

Quick payment– Wallet to Wallet transactions in MBongo are often processed quickly and done in a real-time. This fast payment method enables punctuality in sending and receiving funds and assets. Moreover, it eliminates the delays that arise from banking systems, clearing periods, and wire transfers.

Low transaction costs– When you choose wallet-to-wallet transactions, you immediately bypass intermediaries or fees that are typically associated with banks or payment processors. In the case of MBongo , many international transactions are bound to occur, and the wallet-to-wallet transactions done through MBongo will have favorable currency exchange rates.

Security– Today, Digital wallets and blockchain technology have some of the best security features that are widely utilized in the domain of wallet-to-wallet transactions. Additionally, wallet-to-wallet transfers reduce the risk of fraud as they are generally authenticated using passwords, private keys, and other secure mechanisms.

Inclusive and Accessible– This particular payment system can make anyone’s transactional woes disappear as it doesn’t require traditional banking services. With just the usage of a smartphone and internet connection, any user can create a wallet and make financial transactions in locations with limited banking infrastructure.

Features provided by MBongo 

User Interface: The user interface is similar to many other payment apps and can be easily comprehended by the users. There is a requirement of logging-in to the app via email/phone, name and password. Once you have created an account, you can easily log in with the mentioned credentials, and the app dashboard will be displayed.

Payment to businesses: With the help of the MBongo app, payment to business merchants has become easier. Since MBongo provides the feature of scanning a QR code to initiate a payment, you only need to scan the merchant’s MBongo QR code with your app to complete the payment.

Add multiple cards: MBongo is a payment getaway app where you can easily add money to your wallet by just adding your debit/credit card to the app. The interface is simple to understand as with just a tap on the ‘add money’ button; the app will take you to an interface where you can “add your card” and select the amount of money you want to add. Once you have completed the process of adding a card, you will see that you can add a card, thus, giving you the service of adding multiple cards.

Filtered transaction history– MBongo app is made for transactions with no limit in terms of the number of people or businesses you pay through the MBongo app. Sometimes, a need arises to check for a history of specific transactions that you may/may not have made. But, the process may turn hectic if you have infinite number of transactions to look at. The feature of filtered transaction history helps you find out the list of payments made in a certain period of time. For example, you can filter out the payments by setting a start date and an end date, and the app will show you all the transaction history made within that particular period of days.

Send money from wallet to wallet– With the inclination towards innovation; app companies have always been adding new and requisite features and services to make the app more friendly to its user. One such feature that MBongo introduced is that it allows a mode of payment where you can send money directly from one user’s wallet to another. When conducting a wallet-to-wallet transaction, the sender initiates the transfer from their wallet by specifying the recipient’s wallet address. With MBongo , you can perform such transactions with anyone and all the contacts saved in your phone.

Fingerprint Security– Today, the threats have changed their domain from being physical to digital. The security provided by software and tech-based companies in order to protect your data, money, and personal information is unparalleled. MBongo is leading the way in protecting your valuables, such as funds or personal data, that are present digitally within the app. Though there is already a security measure in place, in case you forget your password, there is also fingerprint security where no one apart from yourself and your fingers can navigate the app.

Notification Alert – The notification alerts will perform their duty whenever any information MBongo has to convey to its user along with any transactional operation. MBongo has also introduced a payment request option where one of your recipients or someone from your contacts can reach you with a payment request, and the app will notify you about it right away.