How do mobile money agents make money?

The agent earns commission from the deposit, withdrawal, buying airtime and paying bills for the customers. The commission of agents reduced significantly after the introduction of the one percent tax on mobile money withdrawals in July 2018.

Which mobile wallet is best in Nigeria?

Here are some of the best eWallets in Nigeria.

  • Skrill. Skrill Nigeria is one of the most popular eWallets in the world and with good reason.
  • Quickteller.
  • Transferwise.
  • Neteller.
  • Ecopayz.

Is mobile money available in Nigeria?

In January, MTN revealed that MTN Nigeria’s mobile money service had attracted 9.4 million active users since launching in August 2019.

How can I start a mobile money business?

How To Become An Agent

  1. Register Mobile Money Customers.
  2. Deposit cash into registered customer account.
  3. Process cash withdrawals for registered & non-registered customers.

Is there profit in mobile money business?

With potential direct revenue from mobile money accounting for more than 20% of total business and cash flow margins of over 15%, mobile money can be a healthy cash generator for operators already investing heavy CAPEX in last generation data deployments, and can also help to maintain loyalty and efficiency on the …

How can I open a wallet without BVN?

Simply dial *901# and select “Open Wallet Account without BVN” and follow the instructions.

Does Google pay works in Nigeria?

Your Google Wallet in Nigeria can be used at merchant locations with a PayPass or MasterCard logo. If your payment is successful, you will receive a notification about a successful transaction immediately.

How do I start a mobile money business?

Registration process

  1. Dial *5051#. (
  2. Select Register and send.
  3. Select your region in which you intend to operate and send.
  4. You will receive a reference number via SMS.
  5. Write the reference number received on the MoMo registration forms.
  6. MTN MoMo Agent will call and also visit your location for inspection.