Are you interested in becoming an MTN MoMo agent in Nigeria? Well, not to worry, this tutorial will break down the process to make it happen while educating you on what mobile money agency banking is all about. You can easily utilize the brilliant platform whenever you want, and you just need the right guide to make it happen. See How To Become A MTN MoMo Agent In Nigeria:
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What Is MTN MoMo?
MTN MoMo is simply an acronym for MTN Mobile Money, a platform launched by Y’ello Digital Financial Services (YDFS), a subsidiary of MTN Nigeria. Y’ello Digital Financial Services (YDFS) is licensed under the CBN super-agent framework and agent banking guidelines to operate as a financial service provider in agency banking and super-agent operation.
Y’ello Digital Financial Services is no bank, but the license aids the telecom company to offer other services, agent network to serve financial institutions and Mobile Money operators in Nigeria. MTN is simply taking advantage of its huge number of subscribers with the Mobile Money (MoMo) agency banking.
Who Is A MTN MoMo Agent?
MTN MoMo Agent is an individual or business that helps customers to send and receive money everywhere in Nigeria via the MTN platform. They can be referred to as middlemen since they stand between you and the person or the company you wish to carry out financial transactions with.
The service MTN MoMo agents render is simply sending and receiving cash from any part of Nigeria. MoMo agents stand out because customers do not need a bank account to send or receive money. They just have to locate a nearby agent, and their transaction will be completed.
Requirements For Becoming A MTN MoMo Agent In Nigeria?
- You need to have an existing business or be willing to invest in MTN MoMo Agency banking services.
- You’ll need a Brick and Mortal/Immovable retail shop. Umbrella setups are not allowed. Acceptable location includes a proper store or shop in a location with lots of potential customers.
- Valid means of ID like International passport, Driver’s license, National ID card or Voter’s card.
- 1 passport photograph.
- Minimum working capital of twenty thousand naira. More working capital will be required of you’ll be handling lots of transactions.
- A filled up MoMo Authentication Question form. These forms are available at any MTN office close to you. It has to be filled correctly to be accepted.
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After completing the form, you’ll need to submit it to the MTN office where you got it from. MTN will then reach you via email or telephone number if your application is successful. Processing should take between 15 and 20 days, therefore if you don’t get feedback after 20 days, you might need to visit their office for follow-up.
That is that.