The sender simply hands the money over to the cashier, enters the recipient’s phone number into the terminal and, after dialling a short number, taps the phone to the terminal. Money is transfered via mobile phones and a network of Margento terminals located at participating businesses.
The money is stored in the Margento system for the recipient to collect at any local participating business. Building on the reach of the mobile networks and the ubiquity of mobile phone, this unique Margento procedure makes it very easy to send and receive money, making the transfer itself very fast.