Does Nigeria mobile money work?
Does Nigeria mobile money work?
Mobile Money is a payment solution that enables you pay for goods and services with their mobile phones. Mobile Money is one of the e-payment solutions available to Nigerians in a cashless Nigeria. A number of providers have already been licensed by the Central Bank of Nigeria, CBN, to offer mobile money in Nigeria.
What is MTN MoMo pay?
MTN’s groundbreaking Mobile Money (MoMo) service lets you store, send, and receive money using your phone. You don’t need a bank account or fancy smartphone to use it – it works on the most basic of feature phones too!
What is MTN MoMo agent?
MoMo is an acronym for Mobile Money. MoMo services allow registered agents to perform transactions for customers. Cash2Cash is a MoMo Agent service that allows MTN customers to send and receive money from any part of Nigeria without going to the bank, owning an account number, memorizing any PIN.
How do I get a MoMo agent?
Become an Agent
- Have an existing business or willing to invest in agency business.
- Have a Brick & Mortar/Immovable retail shop e.g. Pharmacy Pop & Mom Shop located in high foot traffic.
- Viable means of identification (National ID, Driver’s License, International passport or Voters card).
- Readiness to provide 1 passport photograph.
What are the benefits of MoMo agent?
The Benefits Of Becoming A MoMo Agent
- It works with basic mobile phones.
- You don’t need any internet to perform transaction.
- It’s convenient & simpler alternative to regular banking transactions.
How do MoMo agents make money?
MoMo cash2cash means of payment are on another level.
- Get your cash available in cash.
- Text ‘Agent’ to 64625 or dial *2234# to locate the nearest MoMo Agent near you.
- Get the receiver’s phone number and your own phone number as a sender and take to the agent.
- Give them the cash and the receiver’s phone number too.
How much do I need to start a mobile money business?
How much money do you need to start an MTN MoMo business? There is a minimum capital requirement that is expected from a prospective MTN Mobile Money Ghana agent. At GH¢ 4,000 is the required minimum amount of money you are required to have to become an agent.
How are mobile money agents paid?
Agents are paid commissions, and the commissions depend on the master agents. Agents have to forego 10% of their income to the Uganda Revenue Authority. As an aggregator or master money agent, you are responsible for recruiting agents into your territory.
What are the charges of MTN mobile money?
Fees
| Transaction Point | Services Type | Charges (GHC) |
|---|---|---|
| At Merchant’s/ Agent | Cash-out | 1% |
| On Mobile | Money Transfer (P2P) | 0.50 |
| On Mobile | Money Transfer (P2P) | 1% |
| On Mobile | Money transfer (A2C) | 1.50 |