MTN Mobile Money operates a delocalized system of engaging its customers. Just like a bank with many branches, MTN Mobile Money operates similarly through the inception of the term MoMo agents.
This ensures easy access between customers and MTN, good customer relations, among others. This guide will provide you with information on MTN Mobile Money agents in Ghana.
Who Is MTN MoMo Agent
MTN MoMo agent is a registered business person and a license holder from MTN Mobile Money designated to carry out financial services (like cash withdrawal, registering for MoMo, etc.) to MTN Mobile Money subscribers.
Requirements For Registering As MoMo Agent In Ghana
Below are the core needs before one can be registered as a MoMo agent in Ghana:
•You should have a business location
•You should have a mobile phone to carry out MoMo services
•You should have a registered business/Your business should be registered
•You should be 18 years and above
How To Become A MoMo Agent In Ghana
There is an additional episode of the process involved in becoming a MoMo agent, unlike first. To register as a MoMo agent, one has to initiate the process on his mobile first before he can proceed to the filling of documents.
Phone Registration
1.Dial the USSD code *5051# on your phone and press send
2.Select option 1, “Register.”
3.Select the number that corresponds to your region of business location
4.Once this is done, you will receive an SMS with your Agent/Merchant reference number
5.You will be contacted within the next 72hours
6.You can send your reference number to *5051# to check your request status
7.If you are successful with your application, MTN will delegate staff to come and inspect your business location
8.Once you pass the inspection process, you will then proceed to the next chapter in becoming a MoMo agent.
The next chapter will require you to fill out the business detail form.
Business Detail Form
The details required includes:
•Full name of the owner
•Active Email address
•Identification Card Type and ID number
•Phone number
•Next of Kin
•Source of fund
•Bank details
•Business Registration Number
•Business Name
•Business Address
•Your GPS address from Ghana Post
•Type of Business
•Trade Name
When done with this, proceed and fill the Account handler form.
Account Handler Form
The required information includes:
•Employer/ employee information
•Residential address
•Details of your identification card
•Marital status
•Mobile Money authentication question
Review the terms and condition that surrounds the business operations to complete your registration.
You will be given a merchant SIM from MTN after a successful registration.
What Does MTN MoMo Agent Do
MTN confers on its agents to execute all functions related to MTN mobile money transactions, mostly those functions which do not involve ATM or POS machines.
Some of these functions are:
•Cash Withdrawal
•Cash Deposit
•Money transfer
Are MoMo Agents Paid By MTN
MoMo agents are not paid from MTN wallet. However, they are privy to some transactional profits, which is known as commission.
The commission is served to the agent depending on the amount being transacted.
A commission of Gh¢0.5 is served on withdrawal transactions ranging from Gh¢1.00 to Gh¢50.00
Withdrawal transactions exceeding Gh¢50.00 are commissioned 1% of the withdrawal amount.
What Are The Benefits of Becoming a MoMo Agent
There is scarcely any benefit you can think of aside from the ones already known. MoMo agents do not receive any benefits from MTN aside from the commission they are served and the salary they receive from the work itself.
Benefits including these are enjoyed by MoMo agents:
•Well organized financial transaction platform
•Easy and fast way of working
•Efficiency of work
•Incessant demand which results in profit
How Much Is It Required To Become MTN MoMo Agent In Ghana
Starting a business as a MoMo agent will require a minimum amount of Gh¢4000.00 as capital for the venture. It is the fee MTN charges you but rather the money MTN requires for you to start your Mobile Money business.
