Is there profit in mobile money?

Will it make money? Considering mobile money on its own as a source of revenue, about 70 percent of the managers who responded agree to a certain extent that this service will be a significant source of revenue for MNOs, making large profits over time.

How do mobile money agents work?

They can buy items in shops or online, pay bills, school fees, and top up mobile airtime. They can also withdraw cash at authorised agents. If the user wants to pay a bill or send money to another person, they simply select the relevant service from their phone’s mobile money menu.

What is MTN mobile money?

MTN Mobile Money is a service that enables users send and receive money with their mobile phone. Once you fund your mobile money account, you can then pay for goods and services with your mobile phone at participating merchants or transfer funds to friends, family, and clients.


How much is an MTN Mobile money agent line?

MTN Mobile Money Agents can now get MTN Xtra Float worth UGX 50,000, 100,000 and 250,000 at a fee of UGX 300.

Is MTN MoMo profitable?

MTN Ghana recorded 53.1% growth in earnings in the third quarter of this year to GHS1. The company attributed its headline earnings to short-term cuts in expenses and cash preservation. …

How do I become a SIM registration agent?

To apply for an Airtel smartAGENT, all you need to do is to visit any Airtel office nearest to you, then dial 743 on your line (of course it should be an Airtel line). You may choose to download the smartAGENT application form, fill and submit same.

Does Nigeria have mobile money?

Mobile money involves the use of mobile phones for the initiation, authorisation and confirmation of the transfer of a value out of a current/checking, savings, or stored value account. Nigeria’s mobile money landscape is, however, dominated by banks, technology and financial services companies.

How do I check my commission on MTN agent?

Tap on the wallet button on your home screen. Tap on the commission button and a commission panel will be revealed with details about how your commission was earned. You can either withdraw or leave it.

How can I buy EVD using MoMo?

Kindly make sure you have MoMo registered on the EVD SIM, then follow this process to but EVD Credit through MoMo. Procedure: Dial *170#(USSD) Choose option 2(pay Bill) from Menu Choose option 6(EVD)from sub Menu Choose Self or Other and conti…

Does MoMo agent use POS?

Unlike other POS companies in Nigeria MoMo agent is a mobile point of sale service that requires no device; No POS, no ATM. Transactions are carried out and completed on mobile phones.

How do I start my own SIM card business?

To start SIM card selling business, you have to come in contact with various companies. They have to give all the proper information related to their work. For this, you will have to interact with the employees of all the companies yourself in the beginning.

What is MoMo agent?

MoMo is an acronym for Mobile Money. MoMo services allow registered agents to perform transactions for customers. This service allows cash transfers to people who do not have a bank account. Simply put, Agents carry out cash withdrawal for customers without an ATM card or POS machines.

How do I register my Airtel line as an agent?

Dial *700# from an Airtel line and Press the call button. From the retailer menu, enter option one (SIM Registration) and click ‘Send’. Enter the new Mobile number written on the package to your new line and click ‘Send’.

How does Airtel Money work?

This service allows you to access money from your Bank account to your Airtel Money account 24/7. You can use the money to pay for your utility bills, send money across networks, buy goods and services or utilise other Airtel Money services.

How does Airtel mobile money work?

Active your airtel money account at any airtel centre or agent then deposit money then you will receive e-value eqivalent of what you have deposited then your are able to transact; pay bills from your phone, send and receive money, bank or buy airtime with your mobile wallet.

How does MoMo pay work?

HOW DOES MoMoPay WORK? Their purchase is paid for using funds stored in their MoMoPay wallet. Funds settle to the merchants directly, and transactions can be tracked by logging into the Merchant Access Portal (MAP).

How do I become a mobile money agent in Nigeria?

Requirements: You must have been engaged in commercial activity for a minimum of 12 months; must have a physical shop (a permanent structure); must be willing to render financial services; and must have a minimum working capital of N50,000 (for unregistered business) and N250,000 (registered business).

How much is mobile money license in Nigeria?

The total cost of obtaining MMO license is N1,100,000 (One Million, One Hundred Thousand Naira only) which comprises the Application fee of N100,000 (One Hundred Thousand Naira) and a license fee of N1,000,000 (One Million Naira).

Is OPay licensed by CBN?

Our businesses are licensed and regulated by the Central Bank of Nigeria – like any established financial institution – and OPay is today one of the leading Fintechs in Nigeria.”

How does mobile money work in Ghana?

In Ghana, the mobile money wallet is mainly used to transfer value from one person to another person (P2P), for payment of goods and services such as buying airtime, paying for utility bills, Gold and DSTV bills, salaries of some workers, taxi fares, micro-credit, savings and micro-insurance.

Does Western Union do mobile money to Ghana?

MTN Ghana said customers can now receive Western Union money transfers in their MTN Mobile Money wallets. Funds can be received from customers using Western Union digital products and the agent retail network anywhere in the world. …


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