Paying a monthly rental fee of at least UGX 50,000/= for the Mobile Money line. Income is in the form of a percentage commission earned on each transaction and is paid at the end of the month.
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Contents
How much is an MTN Mobile Money agent line?
MTN Mobile Money Agents can now get MTN Xtra Float worth UGX 50,000, 100,000 and 250,000 at a fee of UGX 300.
How do I start a mobile money business?
Registration process
- Dial *5051#. (
- Select Register and send.
- Select your region in which you intend to operate and send.
- You will receive a reference number via SMS.
- Write the reference number received on the MoMo registration forms.
- MTN MoMo Agent will call and also visit your location for inspection.
How are mobile money agents paid?
Commission is that money received off every mobile money transaction made by a mobile money agent.The agent earns commission from the deposit, withdrawal, buying airtime and paying bills for the customers.
Is mobile money available in Uganda?
MTN Mobile Money is an electronic wallet service that allows you to send and receive money anywhere in Uganda using your mobile phone. All you need is an MTN smartphone or basic feature phone to activate your MTN Mobile Money account.
How do I register for MTN mobile money in Uganda?
Register On MoMo
- Using MTN Mobile Money.
- In store.
- Step 1: Visit your nearest authorized Mobile Money agent.
- Step 2:Upgrade your SIM to a Mobile Money-enabled card using a SIM swap.
- Step 3: The agent will take you through the registration process.
How does mobile money work in Uganda?
The mobile money wallet/mobile money account is an electronic money (e-money) account which receives electronic value either after the account holder deposits cash via an agent or receives a payment/remittance from elsewhere.
Can I register MTN mobile money myself?
Log on to MTN Mobile Money official website. Click on “Register”. Enter your username which is your phone number and preferred Mobile Money Pin.A one-time password will be sent to your phone.
How much does a mobile money business make?
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
Is mobile money profitable?
Will it make money? Considering mobile money on its own as a source of revenue, about 70 percent of the managers who responded agree to a certain extent that this service will be a significant source of revenue for MNOs, making large profits over time.
How much can MTN mobile money hold?
Apart from the free transactions, the revised values and wallet limits will remain the same as follows. Customers with a limit of GHS300 can still transact with an amount of GHS1, 000, whereas limits of GHS2, 000 and GHS5000 can transact with values of GHS5, 000 and GHS10, 000 respectively.
How do I start my own banking business in Uganda?
How to apply to become a Bank agent
- Visit the bank branch close to your business location.
- Respond to questions from the Branch Manager as regards aspects of your business laid out in the Agent Banking minimum standards checklist.
- Fill the Agent Application form and attached the required business Documentation.
How do I benefit from mobile money business?
The main benefit these entrepreneurs reported was increased efficiency from time saved and improved logistics. Most find mobile money much easier than banks: the locations are more accessible, customer service is better, transactions are faster, and it’s much easier to sign up for an account.
How much is a mobile money line?
Paying a monthly rental fee of at least UGX 50,000/= for the Mobile Money line. Income is in the form of a percentage commission earned on each transaction and is paid at the end of the month.
What is the limit of MTN mobile money in Uganda?
UGX 7,000,000 per transfer
How much can I send to mobile money accounts Uganda? MTN Uganda mobile money accounts: A maximum of UGX 7,000,000 per transfer.
How much can a mobile money account hold?
Terms & Conditions for AirtelTigo Money
| AirtelTigo Money | KYC | Aggregate Daily Transaction Limit |
|---|---|---|
| Bronze | Any Photo ID | 1,000 |
| Gold | Valid National ID, Voter ID, Driver’s License, National Health Insurance Scheme (NHIS) ID, SSNIT ID, and Passport | 5,000 |
How much is an MTN SIM card in Uganda?
New SIM cards cost only UGX 2,000. SIM card swaps are only UGX 1,500 and customers are also required to present a valid police letter that is no older than 21 days. 4G SIM card upgrades or replacements are UGX 1,500 and customers are also required to present their current SIM card.
How do I transfer money from MTN to Uganda?
- Dial *165#
- Select Send Money.
- Choose to send Money to a Mobile User (someone with a mobile phone) OR a Non-Mobile user (someone without a mobile phone)
How do I become a MTN Mobile money agent?
How to register MTN mobile money
- You must own a registered limited company or its equivalent.
- You must fill in and submit a form known as the Agent Recruitment Form.
- You must fill in and submit a form known as the Agent Account Handler Form.
- You must meet the minimum Merchant/Agent code of ethics requirements.
How do I transfer money from my bank account to my mobile money?
A lot of my friends have been asking me how to transfer money from bank account to mobile money.
Withdraw from Bank account to Mobile Money.
- Choose “2” transfer from Bank.
- Choose your bank.
- Enter “1” to choose account.
- Enter amount to withdraw.
- Enter MoMo Pin code.
- Press “1” to confirm and send.
How do I send money from mpesa to MTN mobile money Uganda?
To a MTN Uganda Subscriber?
- Dial *840#
- Enter your preferred PIN.
- Select Send Money.
- Enter destination phone number in the international format e.g. 256xxxxxxxxxx.
- Enter amount and confirm.
