How To Become An MTN Momo Agent In Nigeria: (2021 Updated)

To become an MTN Momo Agent there are some easy steps you need to take, The term MTN Momo simply means MTN Mobile money and this has its focus on making transactions within Nigeria and MTN subscribers.

The MTN Momo i.e. the MTN Mobile Money is a platform from Y’ello Digital Financial Services (YDFS), a subsidiary of MTN Nigeria which was launched not long ago so as to make transactions easier and at the same time providing a job opportunity for those looking for a job in Nigeria.

In case you are hearing this for the first time and you are wondering what this really means, we will explain this to you so that you can grasp what MTN MoMo is all about.

Do you know that you can make money transfers with the help of the MTN MoMo agents around you? Yes, you can. Instead of you queueing at the bank or wasting much time with POS agents you can make use of MTN MoMo to transfer and receive money.

Read Also: Full Guide to Starting a POS Business in Nigeria

This article will carefully explain and guide you through in case you want to be an MTN MoMo Agent, you will know how to become a MoMo agent and also how to be successful in the business.

Just like every other commercial bank in Nigeria, MTN MoMo with its affiliate name  the Y’ello Digital Financial Services (YDFS) is registered and authorized by the Central Bank Of Nigeria so there is no cause for alarm as your transactions are secured.

Though we have to be clear about this, the MTN Momo or Y’ello Digital Financial Services is not a bank but it assists in making life easy for every Nigerian by offering its digitalized service thereby helping organizations in making monetary disbursements.

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What Is MTN MoMo Agent All About?

The MTN Momo agent assists to send money and also to receive, they stand as middlemen for every transaction customers might want to make.

With the help of MTN MoMo Agents, you can send and receive money from anywhere in the country just by making use of the MTN MoMo mobile platform.

This also serves as a job opportunity to those looking for jobs, being an MTN Momo agent you can be independent and own your business.

Customers do not need a bank account and also do not need to go to the bank to send or receive money neither does the customer have to own an account number, MoMo agents help with that in a jiffy.

What Is The Work Of MTN MoMo Agents?

What are the functions of MTN Mobile Money agents? Check the points listed below:

  • Bulk Disbursement: This is a distinct service others do not offer and if they offer it then it cant be as swift as MTN mobile money. For easy disbursement of money to a huge number of people then MTN MoMo agents come in handy as you can pay a lot of people at once with this. For example, if you are a boss of a company or you have many people you needed to send money to, you can make use of the MTN MoMo agent service and all those recipients will get their money either they have an account number or not.
  • Transfers: The MTN MoMo Agents also helps to transfer money between two parties i.e from the sender to the recipient with or without bank accounts, your recipient can easily get the cash from an MTN MoMo agent.
  • Bill Payments: For your subscriptions either cable tv like DSTV, GoTV, Startime,  and electric bills with PHCN MTN MoMo Agents can help you with them.
  • Money Deposits: You don’t have to visit a bank to deposit money into your bank account, we all consider this stressful and it can also cost us much. All that is now so easy, an MTN Momo agent can help you deposit into your bank account.
  • Cash Withdrawals: You can also receive cash from MTN Momo agents, for those that do not have banks closer to them then making use of MTN MoMo agent branch near you is the best option.

Requirements for Becoming MTN MoMo Agent

You have to be eligible before you can be allowed to own a Mobile Money shop, there are some requirements you should meet, see them below:

  • You are expected to have the capital to start this up or you have a current business that will generate the income needed to run the business.
  • A shop is also needed, that will be the physical location where your customers will meet you either with a brick or an irremovable retail shop. Note that Umbrella usage isn’t allowed or approved.
  • A generally accepted identification proof should be available e.g. Driver Permit, National ID Card, National Voters Card, International Passport and so on.
  • A passport photograph.
  • A capital of at least N20,000.
  • A MoMo Authentication Question form carefully and correctly filled, form is obtainable from any MTN office close to you.

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How to Become an MTN MoMo Agent in Nigeria

Should in case you are keen on becoming an agent it is a good business I will back anyone to go into, one of the cool businesses that is not fully tapped in Nigeria. Follow these tips and guides to become an MTN momo agent:

  1. Be Eligible – Firstly, try to meet the requirements listed in this article as this will pave way for you to be an approved agent in Nigeria.
  2. After the requirements are settled then visit any MTN outlet close to you and obtain your form, fill the form with correct details and submit the form.
  3. Visit www.momoagent.com.ng to download the MoMo agent mobile application which you will be making use of.
  4. Once this has been done a staff will visit you at your location to inspect and confirm that you are truly ready for business.

Conclusion

Being an MTN MoMo Agent is a very reputable business, there are some benefits you get, aside from that this can also be a side income generating machine for you. Also, you do not need a big phone to start it, a basic mobile device is all you need, in addition, you do not need internet to carry out your service, not mandatory.

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