There is no change!

At the market, the shopkeepers only have this famous phrase in their mouths.

In the supermarkets, it is very serious. You often find yourself having to buy what you didn’t plan to buy, because of the famous “Miss Money”. And sometimes, in spite of all the effort, you still arrive at the checkout to hear: “There is no coin!”.

So you leave the supermarket very irritated and embarrassed not only for having wasted your time, but also for not getting what you went for.

In the Mobile Money distribution points, if you want to make a transaction of 2,000 F in 5,000, you will hear: “There is no coin!”.

Strategies put in place to bypass Miss Currency

Whether we realize it or not, we all very often use strategies to catch Miss Currency:

1. In order not to annoy taxi and motorbike drivers with big notes, or to take the risk of arriving late for work and school, many of them give change the day before;
2. When you go to the supermarkets, you use the vouchers recommended by the cashier, or you make extra expenses.
3. At mobile money points, you make transactions in multiples of 5 in spite of yourself;
4. You make the rounds, from station to station with the motorcycle-taxi driver to try to “break your big note” as we say in Cameroonian language; And sometimes, it’s for a small commission;
5. You borrow money from one of your relatives to pay back later when you have change;

In summary:

It makes you lose time and spend more than you expected;

If you have a commercial activity, it makes you lose customers;

It gives a bad image to your business. You can be known as the shop that never has change, and this drives away customers;

It pushes you to borrow money to get out of a pressing situation.

But where has Miss Currency gone? Why is she always absent and mowing down programs, budgets and people’s business?

As silent as it appears to be, the damage
caused by Miss Currency is much deeper

With mobile payment solutions, we thought we’d nail Miss Currency this time, which is so much to be desired, but alas! Quite the opposite. The person managing the point has to be a good faith person to give you small change; because most of the time they don’t bother. Who loses out? It’s you, of course.

We realize that as quiet as it may seem, the damage caused by Miss Currency is much deeper. So it is high time we took power over this real phenomenon.

Genuine solutions for Miss Currency

Many countries have already figured out how to settle his account, including some African countries where FinTech has taken the lead by allowing individuals to pay their bills or receipts from their mobile phones using a dedicated application and a QR code system.