In 2013, the Central Bank of Nigeria (CBN) released guidelines on the operations and management of Agent Banking. This has helped communities with little to no access to traditional banking services perform financial transactions. In many rural and semi-urban areas, the presence of mobile money agents such as MoMo Agent provide basic financial services including cash transfer, bill payments, among others, to members of the public. With this, residents in underserved communities can have access to cash-to-cash transactions, bill payments, airtime purchase and more, without visiting a bank or using an ATM card.
However, some prefer to travel the distance to use a bank or Automated Teller Machines (ATM) instead. For them, it is little concerns that make them stick with the traditional system. When their concerns are examined, it turns out that they do not exist with MoMo Agent as it provides safe means of mobile money transfers.
- Expanded services: Mobile money agents do not perform all banking services but basic day-to-day financial transactions like cash to cash transactions, and so on. Recently, the MoMo Agent Service was expanded to now include bill payment, cash deposit and withdrawal, data and airtime purchase, and bulk disbursement services to anywhere in Nigeria without a bank account or use of an ATM card.
- Trustworthy: Nigerians are very careful about who they engage concerning money. The good thing is with MoMo Agent, you are sure to be transacting with a vetted agent. The agents go through top level assessment to ascertain their suitability.
- Location: Do you wonder if you can be sure to see an agent in your area? Or are you bothered the intended recipient may not find a MoMo Agent in their area? With over 300,000 agents and growing, MoMo Agent covers over 700 local governments in Nigeria; an ubiquitous presence across the country delivering financial services to the underbanked and unbanked communities. To locate the nearest to you, dial *223# on your MTN line. It is that simple!
- Large transactions: Some traders consider going to the bank because of large transactions. For MoMo Agents, this is no problem because they have a working capital that is enough to satisfy all customer transactions. MoMo Agent has also expanded its bulk disbursement service.
- Time efficient: Unlike typical banking where you sometimes wait for hours to be attended to, your transactions with a MoMo Agent is in real time. Cash can be sent and received in minutes, same for other transactions.
MoMo Agent is recognised among people living in rural and semi urban areas as fast, safe, and reliable. So before you embark on that long journey to the ATM, dial *223# to locate the nearest agent to you. Remember, you can perform different transactions including bill payment, cash transactions, bulk disbursements, and so on, without an ATM card!