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Mobile Money and Agent Banking

The document outlines the requirements and steps to become a successful mobile money agent for MTN and Airtel in Uganda. It details the roles, necessary documentation, cash investment, and operational needs for MTN agents, as well as the initial capital and registration requirements for Airtel agents. Both sections emphasize the importance of compliance and proper setup for effective mobile money transactions.

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WANDERA ROBERT
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171 views3 pages

Mobile Money and Agent Banking

The document outlines the requirements and steps to become a successful mobile money agent for MTN and Airtel in Uganda. It details the roles, necessary documentation, cash investment, and operational needs for MTN agents, as well as the initial capital and registration requirements for Airtel agents. Both sections emphasize the importance of compliance and proper setup for effective mobile money transactions.

Uploaded by

WANDERA ROBERT
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MOBILE MONEY BUSINESS

Most of you have heard of Mobile Money, let’s say MTN Mobile Money, Airtel Money or
Africell Money.

When I decide to explain a Mobile Money agent, I can is a contracted person who is
meant to facilitate mobile money transactions, register new users and also teach
them how to use mobile money services.

Becoming a mobile money agent and being successful in this business may seem to be
difficult and confusing without knowledge from someone. In this article am going to walk you
through steps of becoming a successful mobile money agent for both MTN and Airtel in
Uganda.

Mobile Money Agent for MTN Uganda

Roles
 Register MTN Mobile Money users
 Depositing money in MTN Mobile Money registered accounts for users
 Process Cash withdraws for registered and non-registered users
 MTN Easy load for MTN customers (Airtime Top up)
 SIM Card Registration

What you need to become MTN Mobile Money agent


 An agent should registered as a Limited Company and has been existing for not
less than a year.
 A good agent should have a permanent or semi-permanent residence when
he/she will be operating from (Counter Table layout)
 Photocopy of the Certification of Incorporation
 Certified photocopy of the Memorandum of Articles of Association
 Bank statements for three months that belong to the company
 Photocopies of IDs for the Directors
 Introduction letter from the LC1 that confirms your residence status
 Existing Business Turnover of at least Ushs 5 Million per Month.
 Photos of the agent premises
 Signed compliance agreement
 Official emails and valid contact numbers
Note that after being processed, MTN will send a representative to check up with your
premises prior to the commencement of the business.

The agent should preferably employ 2 competent staff to manage the day to day operations
of the
outlet and 5 foot soldiers to support Mobile Money registrations (MTN pays a commission
to the DST)

It would make sense if you own these also

 Computer and a Photocopying Machine


 Static IP address for a secure access to the Mobile Money web page, based on
computer availability (from your service provider)
 A Camera or a nice camera phone.

Cash Investment
 Search fee, 25,000 UGX
 Starter Kit: 87,000/=( Includes 2 Alcatel Phones, 3 Agent Packs, 2 Mobile Money
T Shirts, 4
 Transaction books and Price Rates poster
 Minimum Float Deposit of 3,000,000 UGX
 Minimum Float Balance of 1,000,000 UGX
 Minimum Cash Balance of 1,000,000 UGX

Note: MTN Mobile Money Agents can now get MTN Xtra Float worth 50,000shs,
100,000shs, 250,000shs, 350,000shs and 500,000shs at a fee of UGX 300. MTN Xtra Float
has to be paid back in 48 hours. Payback the money in time to avoid a penalty
of 3,000shs charged against your commission.
Airtel Money Agent

If you want to become an Airtel Money agent, consider the


following
 Initial startup capital of 2,000,000UGX
 Filled subscriber form as issued by the Company according to the UCC Terms of
Use.
 Certificate of the Registration of Business Name
 A valid National Identification Card
 Applicants passport size photo
 Proof of Residence, for example utility bills, LC1 ID, LC1 Letter and many more
you can use.
 Recommendation letter from the LC1 Chairperson.
 A Completed agent sub-agent application and registration form
 Trading License

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