POS Machines

MTN MoMo Agent POS Charges & Commission Rates

Unlike other POS companies in Nigeria MoMo agent is a mobile point of sale service that requires no device; No POS, and no ATM. Transactions are carried out and completed on mobile phones.

The amazing thing is you can render services just as a bank would with an ordinary phone (non-smartphone devices).

MoMo belongs to MTN Nigeria and as a MoMo agent, you have the opportunity of being licensed and authorized to carry financial services such as deposits, withdrawals, and transfers with your mobile phone anywhere in Nigeria.

What is MoMo agent?

MoMo means Mobile Money. MoMo is a product initiative of MTN Nigeria. Therefore, as a MoMo agent you’re duly registered and licensed by MTN to operate a MoMo without POS or ATM, that is, you can carry out financial transactions for customers at any point and anywhere.

Read Also: How To Start A POS Business In Nigeria

As a MoMo Agent, you can carry out financial services like cash transfers and withdrawals without an ATM card or POS machines to people who do not have a bank account.

What are the requirements to become a MoMo Agent?

To become a duly registered MoMo Agent, you must:

  • Have an existing business or are willing to invest in the agency business.
  • Have a Brick & Mortar/Immovable retail shop e.g. Pharmacy Pop & Mom Shop located in high foot traffic.
  • Have a viable means of identification (National ID, Driver’s License, International passport or Voters card).
  • Provide 1 passport photograph.
  • Have a working Capital of ₦20,000 and above.

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Mtn momo agent pos charges & commission rates - ng job alerts

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  • How to apply for an MTN MoMo agent in Nigeria?

    MTN MoMo agent registration: Below are the steps to become a MoMo agent in Nigeria:
    Step #1: The first step to getting approval to become a MoMo agent in Nigeria is to meet all the requirements stated above.
    Step #2: Visit any of the nearest MTN outlets to pick up a form, fill it & submit your details. 
    Note that you’ll need to go along with a Valid ID card (National ID, Driver’s License, International passport, or Voters card), and 1 passport photo.
    Present a snapshot of your existing shop or kiosk as evidence so as to fast-track your application. 
    Step #3: Click HERE to download the application form and proceed to step 4.
    Step #4: At this stage, one of the MTN field personnel will contact you for a planned visit to ascertain your suitability.

  • What are the services I can do as a MoMo agent?

    Withdrawal and deposit 
    Bills payment like GOTV, DSTV, NEPA BILL 
    Airtime recharge 
    Data subscription 
    C2C i.e customer to the customer transfer 

    Read: PayCentre POS Charges and Agent Commissions

  • What are the benefits of the MoMo agent?

    Here are some MoMo Agent benefits
    1. Ability to send and receive money for your customers whether they have a bank account or not.
    2. MoMo is available to use on any mobile phone – smartphone or not, which means you do not need any internet connection as all the features are accessible on small phones. 
    3. Fast transactions. Processing transactions are simple and fast; no need to look for a connection to the internet and it can even run on any network of your choice.
    4. MoMo platform is designed to run on any network, it makes it faster to process transactions

  • What are the commissions on withdrawals for MoMo Agents?

    MoMo debits a small amount of money from the customer and uses it to pay the agent commission.
    Here is the commission’s MoMo pay to agents for withdrawal transactions:
    1. ₦1000 – ₦5000 agent commission is ₦25
    2. ₦6000 – ₦20,000 agent commission is ₦50
    3. For any amount above ₦20,000 up to ₦500,000, the agent commission is ₦150.

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  • MoMo Deposit commission for Agents?

    MoMo debits a small amount of money from the customer and uses it to pay the agent commission.
    Here is the commission’s MoMo pay to agents for deposit transactions:
    1. ₦1000 – ₦5000 agent commission is ₦25
    2. ₦6000 – ₦20,000 agent commission is ₦50
    3. For any amount above ₦20,000 to ₦500,000, the agent commission is ₦150.

  • Bills payment commission for MoMo Agents

    MoMo pays their agents ₦50 as commission for every bill payment made by customers between ₦1 and ₦500,000. This ₦50 is from the ₦100 that MoMo will charge the customer

  • How do I lodge bill payment and other complaints as a MoMo Agent? 

    For issues relating to payments and PIN reset requests, you can contact the customer service representative by dialling 182 or chat MoMo support on WhatsApp on 08032003014, or 09030001782.

  • How do I fund my MoMo Agent wallet?

    You can log in to your Bank mobile app to deposit funds into your MoMo and follow these simple steps below:
    Step #1: select bank transfer 
    Step #2: select bank as ACCESS YELLO ACCOUNT 
    Step #3: Input your registered MoMo agent phone number as account number (without the first ‘0’ for example, if your number is 08101409501, your MoMo account number will be 8101409501 )
    Step #4: After inputting your number, it should display your name, confirm the name is correct and proceed with the amount you wish to fund your MoMo agent wallet.
    Step #5: enter your password and proceed to transfer funds. Now, check your account; funds will reflect in your MoMo account within a few minutes 

  • How do I check my MoMo account balance? [MoMo Agent Transaction Code]

    Here is how to check your MoMo agent pos account balance:
    Dial *502#.
    Enter 5 to view balance. 
    Enter your MoMo wallet PIN.
    Note that Your MoMo agent account balance will be displayed and also, a message will be sent to you via SMS.

  • How to check the MoMo Agent Commission? 

    Here is how to check your commission using MoMo Agent Transaction Code:
    Dial *502*8*3# and follow choose:
    Account Number (NUBAN)
    Airtime Balance
    Float Balance
    Commission balance
    The commission balance shows your total earnings from the 1st of each month till the time you check the balance. 

  • How Customers Can Use MoMo Agents to Send and Receive Money

    As customers, there are many things you can do without going to the bank on MoMo agent “online POS

  • How do I find a MoMo agent near me?

    There are MoMo agents everywhere and you might not know because they are unlike other pos with kiosks. To find one close to you…
    dial *223# on your MTN sim, 
    select 1 to locate the Agent
    Enter the STATE. 
    Select LGA i.e the local government you are currently in. 
    This will display the address and phone number of the closest MoMo Agent.
    You can also use the MoMo agent locator feature on the MoMo website Here.

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  • How to send money via a MoMo agent

    Locates the MoMo agent closest to you
    Provide your phone number, receiver’s phone number, and the cash transfer to the MoMo Agent.
    Once the MoMo agent completes the transaction, a five-digit control number will be sent to you and another five-digit number to the receiver of the money
    Lastly, send the five-digit control number to the receiver of the money.

  • How do I withdraw money from my MoMo agent?

    Locate a MoMo agent close to you by dialling *223# after the sender informs you he has sent the money and you have received the 5 digits codes
    Take the five-digit control number sent by the sender plus the other five-digit that was sent to you to the MoMo agent in other to collect the money.
    After confirmation of the codes, the MoMo agent will pay you the amount sent to you after removing the charges 

  • How much are MoMo withdrawal charges for customers

    Below is a full breakdown of MoMo charges that will be deducted from your transaction as a customer. 
    That means if you withdraw as follow
    ₦1000 – ₦5000 charges is ₦50
    ₦6000 – ₦20,000 charges is ₦100
    Any amount above ₦20,000 to ₦500,000 charges is ₦300 

  • How much are MoMo deposit charges for customers?

    Below is a full breakdown of MoMo charges that will be deducted from your deposit transaction as a customer. 
    That means if you send/deposit as follow
    ₦1000 – ₦5000 charges is ₦50
    ₦6000 – ₦20,000 charges is ₦100
    Any amount above ₦20,000 to ₦500,000 charges is ₦300

    Read Also: What is an Android POS Machine?

  • MoMo bills payment charges for customers

    MoMo charges ₦100 for transactions involving bill payments from ₦1 to ₦500,000. Meaning that MoMo will charge you ₦100 for every bill payment you make on the MoMo POS Agent.

  • Does the 6-digit secret code generated by MoMo expire?

    MoMo 6-digit code expires within 30 days. However, you can retrieve the code by dialling 180 to request a refund.

  • How secure is the MoMo agent?

    MoMo is owned by MTN Nigeria, a reputable company duly registered and licensed to operate in the telecommunication industry.
    The MoMo agent, a fintech initiative of MTN itself is authorized by the central bank of Nigeria (CBN) to carry out mobile money transaction services.

MoMo agent “online POS” is a fast and convenient way to send and receive money.
The goal of the MoMo agent is to help people boost their businesses while at the same time creating extra income opportunities for youths.

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