momo agent

How to Become MTN MoMo Agent and Requirements

Last Updated on February 10, 2024 by admin

MTN Momo agent is mobile money agent, a digital Financial Services (YDFS) platform which is licensed by the Central Bank of Nigeria as Super-Agent framework and agent banking that allow Nigerians to send and receive money, pay bills across the country.

The mobile money platform is managed by one of the MTN subsidiaries–Y’ello Digital Financial Services by providing services like cash-in and out payment, airtime, service, and bill payments to customers

The goodness about this service is that Customers don’t need to have a bank account to send or receive money. All that is required is a visit to any MoMo Agent close you to either send or receive money.

You can also read: How to Open Fidelity Bank Account Online

MoMo Agent can perform the service of account opening which allow customers make deposit and withdrawal as well pay for bills without visiting their banking hall or waiting for long queue.

MoMo agents play a vital role in digital financial ecosystem, acting as intermediaries between mobile money providers and customers. If you are looking to embark on a rewarding and profitable business as a MoMo agent, this article will guide you through the essential steps and provide valuable insights into setting up and managing your own agent business.

 

Who’s a  MoMo Agent?

A MoMo Agent is a neighborhood shop where you can visit to send and receive money anywhere in Nigeria. It is safe, fast and convenient.

The MoMo Agent model is the backbone of the Mobile Money ecosystem. MoMo Agents are individuals or businesses authorized by mobile network operators to provide Mobile Money services to customers. They act as intermediaries, assisting users with cash deposits, withdrawals, money transfers, and other Mobile Money transactions.

Also read:How to open sterling bank account online and various account type package

Requirements to become MoMo Agents

Step 1: Check to affirm if you meet the requirements below.

Requirements for MoMo Agents

  • 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.
  • Capability to provide a Working Capital of N20,000 and above.

Step 2: Visit the nearest MTN outlet to pick up the form & submit your details

Step 3: Click here to download the application form

Step 4: Momo Agent field staff will contact you for a planned visit to ascertain your suitability

You may also like:How to log Gtbank ATM/POS Dispense Error complaint online without vising banking hall

You can also become momo agent by registering  with your mobile phone provided your MTN number is registered with your correct registration details (i.e. Your Correct Name, Date of Birth, and Bio-Data). When you create a MoMo agent wallet using your phone number, your phone number will be converted into a momo agent account.

Become a MoMo Agent by Self Onboarding

  1. Dial *502# with your MTN phone number.
  2. You receive a prompt to approve your MTN SIM registration details to be used as your MoMo wallet ID KYC
  3. Select 1 Yes to accept the T&C and to continue to the next step.
  4. Create your 4 digit PIN as prompted.
  5. Reconfirm your 4 digit PIN
  6. Your new MoMo Agent wallet is created
  7. You get USSD and SMS notifications confirming your new MoMo Agent wallet

This will enable you to store funds, send and receive funds, and also pay bills (i.e. utility, electricity, recharge cards, television, e-pins, etc.).

How MoMo agent can check for their commission Balance?

To check for Account Number (NUBAN)
Airtime Balance
Float Balance
Commission balance

Simply dial *502*8*3#.

How can I locate a MoMo agent?

To locate a MoMo agent, simply dial *223# & follow the prompts. List of agents, their phone number and addresses will be displayed. This service is free.

 

What is the benefits of becoming  Momo agent  customers

1. Earn commission

You can profit when your customers use MoMo to buy airtime, data and prepaid electricity and more, at your store

2. Facilitate transactions

Help customers who want to cash in or cash out of their MoMo accounts at your store.

3.Facilitate cash in

For customers who want to cash in to their MoMo accounts, your store could be a convenient time-saver.

4 .Facilitate bill payments

Enable your customers to pay school fees, municipality bills, DStv and other monthly expenses at your establishment.

 

Meet Ogbeide Frank, popularly known as perere, a blogger who loves writing about finance and Tech. He studied Business administration at the Ambrose Alli University Ekpoma and Mobile Communication at Orange College Malaysia .Frank have worked as a banker and consultant in variety of Nigeria agencies

For Advertisement, Content marketing andsponsored post: contact : kokobest04@gmail.com
admin

3 thoughts on “How to Become MTN MoMo Agent and Requirements”

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top