Since June 2019, a unilateral reduction in commissions relating to transactions via MTN mobile money has been observed. Commissions increased from 1 to 0.7% for deposits, i.e. 70 FCFA for a deposit of 10,000 FCFA and from 0.7 to 0.5% six months later, or 50 FCFA for a deposit of 10,000 FCFA.
How profitable is MTN mobile money?
Is Mobile Money Business Lucrative? According to the central bank, the value of mobile money transactions reached GHS 35.4billion at the end of last, an increment of more than 216 percent over the previous year.
How do I become an MTN Mobile money agent?
You need to have a registered business with a trading licence, valid National ID, LC1 Chairman’s letter, 2 passport photos and capital worth at least 50,000/= and above to become an Africell Money Agent.
How much do Airtel money agents make?
The Airtel Money agent commission applicable, currently is 0.5% of all the Cash In(CI) and 1% of all Cash Out(CO) transactions that happen during the calendar month. Airtel reserves the right to change agent commission at any time upon giving the agent 30 days of notice.
Is mobile money a good business?
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 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.
What is MTN Mobile money website?
MTN Mobile Money is a fast, simple, convenient, secure and affordable way of transferring money, making payments and doing other transactions using a mobile phone. The service is offered by MTN in partnership with over 10 partner banks.
Can I register MTN mobile money myself?
You can as well visit the nearest MTN Mobile Money office. Ask the agent that you want to register for the service. After requesting to register for mobile money, the merchant will record your details and register you using his mobile phone. You’ll be asked to enter your preferred four-digit MTN Mobile Money Pin Code.
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.
Who is a mobile money agent?
MOBILE MONEY AGENTS 101. The mobile money agent is the provider’s retail arm, supporting cash-in/cash-out transactions as well as person-to-person fund transfers, mobile phone airtime purchases, and bill payments. Like the traditional bank agent, the mobile money agent operates like a franchisee.
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.
What are the disadvantages of mobile money?
Following are the drawbacks or disadvantages of Mobile Money: ➨The customers are required to obtain compliance from the respected banks. ➨Lack of interoperability between networks restricts reach and makes transactions cumbersome. ➨Adoption of mobile money usually requires multi-party involvement (viz.
How much can MTN mobile money hold?
Apart from the free transactions, the revised values and wallet limits will remain the same as follows. Customers with a limit of GHS300 can still transact with an amount of GHS1, 000, whereas limits of GHS2, 000 and GHS5000 can transact with values of GHS5, 000 and GHS10, 000 respectively.
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 be Glo agent?
Becoming an Agent You can become a Glo Mobile Money Agent and enjoy excellent commission, business and marketing support, amongst other benefits. To become an agent, fill the pre-qualification form and submit.
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.