How do I become a mobile money agent in Nigeria?

How to Become Paga’s Mobile Money Agent

1. Visit the agent page and put in your phone number.
2. Fill the agent Interest form on the next page.
3. Details needed for the “Agent Interest” form include first name, surname and preferred contact.
4. Click “Submit” after filling the form.

Is mobile money allowed in Nigeria?

One fact has always been clear, Nigeria does not operate a telco-led mobile money model. Unlike other African countries like Ghana and Kenya, the government employs the bank-led and non-bank-led models. Essentially, only banks or licenced corporate organisations can be Mobile Money Operators (MMOs).

How do I start a mobile money business?

How to Kick Off

1. Present an Identity Card.
2. Present a letter of introduction/recommendation from the Local Council.
3. Have a deposit of UGX 80,000/= (Eighty Thousand Shillings) to purchase the kit.
4. Fill in an application form.
5. Have starting Float of UGX 2,000,000/= (Two Million shillings)

How can I start mobile banking in Nigeria?

How To Start POS Business In Nigeria (Mobile Banking)

1. Open a bank account.
2. Do bank deposit.
3. Do bank withdrawal.
4. Transfer fund from one bank to another.
5. Pay the following bills e.g PHCN, Dstv, Gotv, Startime, Spectranet, Swift, Tax, and many more.
6. You can also give a loan.

How does mobile money transfer work in Nigeria?

Mobile payment is a phone only financial service with or without formal banking accounts. It functions 24/7. 1. Money Transfer. 2. Airtime purchase. 3. Bill payment (PHCN, DSTV, GOTV, etc.). 4. Merchant payments for goods and services. 5. Check your bank and wallet account balance. 6. Change your PIN. 7. View a mini statement of your account.

What are the rules for mobile payment in Nigeria?

(f) MMOs shall appoint and notify CBN of their settlement banks. (g) All obligations arising from mobile payment transactions shall be settled into settlement accounts held with Deposit Money Banks. MMOs shall maintain separate accounts for their other business activities. 7.4 Rules of Operations for bank account based Transactions

Which is the best mobile money service in Nigeria?

Stanbic IBTC is one of the leading banks in Nigeria with a license to operate the *909# Mobile Money. To start using the mobile money service from Stanbic IBTC, you have to be registered by dialling the USSD CODE *909#.

How do I send money to someone in Nigeria?

Set up your transfer by providing your recipient’s information (name, contact details, and bank account information if you are selecting this payout method), the sum you are sending, the currency you are converting to, and your payment details. You should be given an estimate of how long your transfer will take to reach your recipient.

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