How To Start MTN Mobile Money Business In Uganda
What is Mobile Money?
Mobile money is the electronic means of sending, storing and receiving money using electronic devices like phones and tablets. You can start a mobile business and work as an agent.
Services
MTN Mobile Money Agents serve the following key tasks:
- Register Mobile Money Customers
- Deposit cash into registered customer account
- Process cash withdrawals for registered & non-registered customers
MTN MobileMoney Agents are:
MTN Customer Centres and authorised franchise dealers with substantial distribution networks, countrywide.
How Profitable is Mobile Money Business in Uganda?
Is mobile money profitable in Uganda? Mobile money business in Uganda is profitable if you follow the right strategies in starting and running the business. The level of profitability will also depend on factors such as the startup capital, location, number and types of transactions in a given day/week/month.
How to Get a Transaction Line as a Master Agent or Aggregator
You can work as an aggregator or a master agent. An aggregator is authorized to recruit mobile money agents. Master agents purchase and manage e-money from Mobile Network Operators and then sell them to agents.
To become an aggregator or a master agent, you need to fill in an agent Agreement form, exclusivity agreement form and agent application form. In addition, you will need training and branding for your business.
How Much Is An Mtn Mobile Money Agent Line?
You can now purchase MTN Xtra Float worth as little as UGX 50,000, uGX 100,000 and uGX 250,000 as a service charge of UGX 300 for a mtn mobile money Agent.