Do you wish to become an MTN MoMo Agent in Nigeria? The mobile money sector is growing increasingly popular in Nigeria, and many more individuals are becoming involved. Many people are seeking methods to generate money, and mobile money has made it possible for the general public to benefit.
In May, MTN announced the full launch of its MoMo Payment Service Bank (PSB). This came after the Central Bank of Nigeria (CBN) approved its license in April of this year. Although some individuals are enjoying the benefits, others are curious about how it works and how to become an MTN MoMo Agent in Nigeria.
This article will cover everything you need to know about becoming an MTN Mobile Money agent in Nigeria.
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Contents
What is MTN MoMo?
MTN Momo is simply an abbreviation for MTN Mobile Money. The MTN Mobile Money (MoMo) service is a wallet provided by MTN that enables people to send and receive money, top-up MTN airtime, pay bills (DStv, MTN Postpaid, School fees, and more), pay employee wages, acquire and pay for insurance, pay for airline tickets, and other goods and services.
Who are MoMo Agents?
MoMo Agents are simply retail shops in your community that provide agency financial services to all customers.
As a MoMo Agent, you will provide the following services to earn commission: opening accounts, allowing consumers to make cash withdrawals, cash deposits, bill payments, money transfers, and many more.
The Requirements to Become an MTN MoMo Agent Nigeria
To become a MoMo Agent, you must meet the requirements below.
- You must already have a business or be willing to invest in an agency business.
- You must have a brick-and-mortar/movable retail shop, such as a pharmacy or a shop in a high-traffic location.
- You must have a valid form of identification (a national ID, a driver’s license, an international passport, or a voter registration card).
- You must be prepared to give one passport photo.
- You must be able to provide a working capital of at least ₦20,000.
- You must also complete the MOMO Authentication Question form. To apply, simply go to the nearest MTN office, fill out the form, and then submit it.
- Once completed, MTN will notify you about the next step if you are qualified.
The Next Step After Applying
Once your application has been filed, please keep in mind that the paperwork processing will take some time. As a result, please be advised that:
- MTN’s only means of communication with candidates is by phone and email
- All candidates will be scrutinized. However, this is to ensure that candidates follow all standards and guidelines.
- Furthermore, providing false information and/or documentation will result in MTN rejecting your application.
- If your application has been successfully verified and cleared, you will be notified by email or phone of the status of your application.
- Keep in mind that a successful application may take up to 15 to 20 working days to process.
- All successful applicants will be notified through email or phone of the progress of their application.
Self-Onboarding: Become a MoMo Agent using your mobile phone
- Dial *502# with your MTN phone number.
- You will be prompted to approve your MTN SIM registration details to be used as your MoMo wallet ID KYC.
- Select 1 Yes to accept the terms and conditions and go to the next stage.
- As instructed, enter your four-digit PIN.
- Re-enter your four-digit PIN.
- Your new MoMo Agent wallet will be generated.
- You will get USSD and SMS alerts verifying the activation of your new MoMo Agent wallet.
How to Check Your MTN Momo Agent Account balance
- Dial *502# with your MTN phone number.
- Select 5 from the prompt
- Enter your MoMo agent PIN
- Your MoMo wallet account balance will be shown on the screen of your phone and sent to you via SMS.
That’s all you need to know about becoming as a MoMo agent in Nigeria.