There are several ways of paying money to the merchant either by cash or cashless payment through card and online payment applications. But the only goal is recipient should get the amount securely without data leak. Cameroon is making constant progress towards the digital economy. Currently, almost every other citizen is using mobile money to pay for local transactions. The government has been supporting to improve their cash flow. But not everyone in the country aware of the process of payment digitally, or they prefer the traditional methods. Many telecom operators provide a way of payment through mobile money. The leading telecom operators are MTN Cameroun, Orange Cameroun, Nextell Cameroun, and others. But there are other ways through which you can make payment in Cameroon.
Let’s look at it:
1. Mobile Money:
Mobile money is a faster mode of transferring money to the recipient. MTN Cameroun mobile money transfer is the most common mode of transferring the amount in Africa. MTN is a telephone network operator in Middle East countries. Other mobile network operators also facilitate the way of exchange of money. Over the years, mobile money transfer is a widely used way to exchange money for goods and services. Most of the citizens use cashless transactions instead of cash, and mobile money is easy to use the platform in day-to-day transactions.
2. Card Payments and Cash Transfer:
The traditional and widely used by the citizens in Cameroon. To pay for goods, people can easily use credit and debit cards and can allow cash pickup through banks. Credit cards are widely accepted, and most consumers make use of Visa, MasterCard, etc. to pay the merchants. Mint prepaid cards are universal payment gateway and allow them to pay cash online for digital goods and services.
You can use bitcoins for online purchasing. You can deposit fiat funds and get it to convert into bitcoins and transfer it to a bitcoin wallet. Or you can use your credit and debit cards that are verified. But credit card verification fees can cost you more expensive to buy a bitcoin. Just like ATM, there are BTM available in Cameroon, not many but, they are available. It is simple to use by having a Bitcoin account in your smartphone you can scan. You can make use of these BTM to deposit money in your wallet but cannot be used for withdrawal. For paying goods and services, bitcoins are gaining popularity in the market, and hence you can ask for getting paid in bitcoins. The famous application PayFast can allow you to trade in this. And if you’re concerned about if Bitcoins are legal in Cameroon, then it is legal in South Africa but is not regularize by banks.