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What Does “Reference” Mean When Sending Mobile Money?

Are you looking for what Reference means when you are about to send mobile money to someone?

This is the article for you. In addition, let you know the purpose of the ReferenceReference and what always to put there.

The mobile money industry is growing; gone were the days when sending and receiving money was one of the hardest things to do.

You will have to take transport to collect your money from someone to those with banks near them. You will have to join ques at the bank to receive your money.

Luckily there was the invention of mobile money. MTN Ghana was the first telco to launch mobile money in Ghana in 2009.

When it was first launched, Ghanaians were not paying much attention to this incredible invention until 2012.

From there, Ghanaians got to know the importance of using mobile money to make payments.

The mobile money industry has also grown to the extent that you can pay all your bills using mobile money, and now you can even buy airtime, buy plane tickets just using your phone.

This article will take you through what “Reference” in mobile money means and, in addition, let you know what to type whenever you reach the “Reference”.

So, What Does Reference Mean When Sending Mobile Money?

The reference section is for the sender to state the purpose of the transaction. Also, Reference is used to keep records of certain transactions made.

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Let’s say you have a friend owing you GHS 50. That same friend calls you to ask for another GHS 50, making GHS 100. When sending the GHS 50, you can use the reference tab to record the receiver’s amount by making it ‘You are now owing GHS 100’.

The person receiving the money can also see it, and it can even be a prompt for him or her.

Reference is also useful when you make a lot of payments, let’s say you make payments every month to your workers.

You can use the Reference tab to keep track of all the workers you have paid. Let us say you are paying Emmanuel, who happens to be one of your workers. You can use the reference “Emmanuel SEPTEMBER Payment”. 

This helps keep track of all the people you pay. If one of your workers comes and says they haven’t been paid, all you have to do is open your mobile money messages and search for the month, let’s say “SEPTEMBER.”

All messages containing the reference “SEPTEMBER” will pop up. All you have to do is to go through and confirm what the worker is saying.

Wrapping Up

Reference in mobile money is handy when making payments in mobile cash. This article went through what Reference means when sending mobile money when to use Reference, and how to use it. 

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Talking about mobile money, here is an article covering how to withdraw MTN mobile money if you don’t have ID Card.

Emmanuel Boakye Yiadom
Emmanuel Boakye Yiadom
Emmanuel is a tech blogger, cryptocurrency educator and can sometimes be found decorating cars because he is in love with arts. He also likes reading and blogging about what's happening in the tech world and loves to help people with their techs related issues in his free time.

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