what is an example of mobile money 
funds that can be transferred electronically sometimes are called mobile money the funds typically are connected directly to a bank account or they might be in the form of a prepaid gift card or prepaid debit or credit card apps like paypal or venmo are common examples electronic payment services that function similarly to m pesa the bottom linem pesa was designed in 2007 to serve unbanked or underbanked residents of kenya and since has expanded to serve six other nations in africa it functions much like paypal or other common payment apps except that users of m pesa do not need to have a bank account through m pesa agents located throughout the countries where the service is available customers can deposit cash in exchange for equivalent funds that are immediately transferred to their electronic account the opposite also holds true customers can transfer electronic funds in exchange for cash 