MTN MoMo is essentially an abbreviation for MTN Mobile Money, which is a mobile platform dispatched by Y’ello Digital Financial Services (YDFS), which is a subsidiary of MTN Nigeria. You might be thinking of what this is all about, but don’t get freaky, we will give you a detailed explanation of it here.
With MTN MoMo Agent, you can carry out transfers — send and receive money from any part of Nigeria. On the off chance that you would you like to become MTN MoMo Agent, then this article will guide you about what is the issue here and how you can turn into a successful agent.
Furthermore, the affiliated body with MTN MoMo agent, Y’ello Digital Financial Services (YDFS) is authorized under the Central Bank of Nigeria Super-Agent structure and specialist banking rules to work as a monetary specialist organization in office banking and super-specialist activity.
Despite the fact that the Digital Financial Services isn’t a bank, the permit enables the media transmission organization to offer different types of assistance, agent network to serve monetary organizations and Mobile Money agents in Nigeria. Also, MTN is utilizing on the enormous number of endorsers it appreciates to send the Mobile Money (MoMo) office banking.
What’s All About MTN MoMo Agent?
Facilitation of mobile transfers is the philosophy behind MTN MoMo Agent. This is an individual or business through which you can send and get cash anywhere in the country, by utilizing this MTN platform. These MTN MoMo agents are much more like middlemen or agents, as they stand among you and the individual or the organization you need to do monetary exchange with.
What services would you be able to carry out with MTN MoMo Agent? Definitely, with MTN MoMo Agent, you can send and get money from any place in Nigeria. The principle recognizing feature of MoMo Agent is that, customers don’t need to have a bank account before they can send or receive money at their convenience. What is significant is for them to go to a close by MTN MoMo Agent to lead their exchanges.
What Do MTN MoMo Agents Do?
Let’s take a look at the functions of these MTN Mobile Money agents:
- Bulk Disbursement: This is obviously the factor that distinguishes MTN MoMo agents from other services. With this medium, customers can dispense money to large number of recipients across the country. For example,with the mass payment system, an organization with an enormous number of marketing staff across the country, can send their money to them by means of Momo Agents. All the recipients will get their cash regardless of whether they don’t have a bank account. Everything necessary is just an MTN sim card in their cell phone.
- Transfers: MTN MoMo Agents have facilitated the transfer of money in the country. Whether the two parties associated with cash transfer (that is, the sender and the recipient) have a bank account or not, this transaction can be made through MTN Momo agents.
- Bill Payments: With MTN MoMo agents, customers can take care of their utility payments, for example, PHCN bills, DSTV charges, Startime bills, and GoTV bills and so forth
- Money Deposits: With MTN MoMo Agents, clients don’t really have to get to the bank before they can save money into their bank accounts. Through the MTN Momo organization banking platform, customers can serenely hold up cash into their accounts. This implies that they don’t have to face the challenge of conveying a lot of cash to a distant bank location. This goes to show that the platform is very much dependable.
- Cash Withdrawals: Typically, in Nigeria, there are still many local areas that don’t have any bank presence. A few customers travel to far away town and end up in circumstances that require installment of money. MTN Momo specialists can act the savior in this kind of circumstance. Clients will have the option to redraw or send money from their accounts through these agents, provided they have MTN sim card. In any case, there is no town where you won’t discover individuals that are using MTN lines.
Requirements for Becoming MTN MoMo Agent in Nigeria
There are eligibility and prerequisites that anyone that needs to become MoMo should meet and these are featured below:
- First, you should have any current business or you are eager to put resources into MTN MoMo Agency banking.
- You should have a Brick and Immovable retail shop. Umbrella foundation sort of area doesn’t fit the bill for the business. Instances of worthy areas incorporate areas with a high human traffic.
- Substantial means for identification and distinguishing proof, for example, International identification, Driver’s permit, National ID card or Voter’s card.
- One passport-sized photograph
- Least working capital of N20,000. You will require all the more working capital on the off chance that you will deal with high volume of transfers.
- Filled and completed MoMo Authentication Question form. You can get the form from any MTN office near your area.
How to Become a MTN MoMo Agent in Nigeria
Are you contemplating on how to get started with MTN Mobile Money agent business? It’s certainly a good decision to make, and let’s get you in with a guide on this. Here is how to become MTN MoMo Agent in Nigeria:
- Meet the Requirements – The first thing to do is to be eligible and meet the requirements stated above. This will be the basis through which you will be considered for the platform.
- Next step is to visit the nearest MTN outlet and pick up the form. Fill up the form and submit your details to the body.
- The third step is to download the application form from MTN MoMo Agent website at momoagent.com.ng.
- After this process is done, one of their field staff will contact you for a planned visit which will be carried out to ascertain your suitability.
Becoming an MTN MoMo Agent is a very rewarding venture. Few of the significant benefits of becoming MTN MoMo Agent is that: it turns out additional revenue; you don’t require complex cell phone, as you are all set with any basic phone; the business is substantially more open to clients; and it doesn’t need any online means which will be time and data consuming.
We believe with all these good features of the MTN Mobile Money agent, you now have a clue on how the business operates. That’s the size of this our guide on how to become MTN MoMo Agent in Nigeria.