In this post, we reveal things to know about wave Uganda. Wave has millions of users and is growing fast. Its goal is to make Africa the first cashless continent. What do we mean by cashless? Cashless is defined as the exchange of funds by cheque, debit or credit card, or electronic methods rather than the use of physical cash (notes and coins).
Why would you want to transact cashless-ly? Firstly, because it is convenient. Imagine you had to carry a lot of money around, you would need a bag or something to carry it in, as opposed to a cashless means like a card or money on your phone. Secondly, it is safer and offers peace of mind as compared to walking around with hard cash. Let us delve into the services and benefits of using wave Uganda as compared to its competitors.’
Services offered on Wave Mobile Money Uganda
With Wave, you are able to have the following services.
a) Depositing and withdrawing money for free
b) Sending money to anyone for only 1%
c) Paying your bills for free
d) Buying airtime instantly
e) Protecting your money with wave’s best in-class-security=
To use wave’s services, you need to download their mobile application from the iOS app store for iPhone users or the Google Play Store for Android phone users. You can use either MTN or Airtel to register with wave.
Wave Uganda – Transaction Fees
Users of wave mobile money are charged a 1% fee when sending money from one Wave wallet to another and a maximum flat fee of UGX 12,500 for any transaction over UGX 1,250,000.
| Min | Max | MTN MoMo to MTN | MTN to Other Networks | Wave Mobile Money |
| 500 | 2500 | 30 | 330 | 25 |
| 2501 | 5000 | 100 | 440 | 50 |
| 5001 | 15000 | 350 | 700 | 100 |
| 15001 | 30000 | 500 | 800 | 300 |
| 30001 | 45000 | 600 | 1210 | 450 |
| 45001 | 60000 | 750 | 1500 | 600 |
| 60001 | 60000 | 1000 | 1925 | 1000 |
| 125001 | 125000 | 1100 | 3575 | 2500 |
| 250001 | 250000 | 1250 | 7000 | 5000 |
| 500001 | 500000 | 1250 | 12500 | 10000 |
MTN is the most used network service provider in Uganda. If you are to look at its transaction charges in comparison to Wave, you immediately notice Wave’s charges are lower. The same is true if you are to compare Airtel’s transaction charges to Wave’s since Airtel’s charges are almost the same as MTN’s.
MTN and Airtel charge withdrawal fees in addition to the 0.5% Mobile Money tax. Wave charges NOTHING when it comes to withdrawals.
Those are some of the things you need to know about wave Uganda.