How much do I need to start a mobile money business in Uganda?

Have a deposit of UGX 80,000/= (Eighty Thousand Shillings) to purchase the kit. Fill in an application form. Have starting Float of UGX 2,000,000/= (Two Million shillings)

Is Mobile Money profitable in Uganda?

Mr Victor Aryatura, an agent operating in Namugongo, Wakiso District, says mobile money is no longer a very profitable venture for one to rely on independently nowadays due to the slashed commission fees.

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 do I start a mobile money business?

How to register MTN mobile money

  1. You must own a registered limited company or its equivalent.
  2. You must fill in and submit a form known as the Agent Recruitment Form.
  3. You must fill in and submit a form known as the Agent Account Handler Form.
  4. You must meet the minimum Merchant/Agent code of ethics requirements.
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How much is MTN agent line in Uganda?

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 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 become a MTN Mobile money agent?

Registration process

  1. Dial *5051#. ( …
  2. Select Register and send.
  3. Select your region in which you intend to operate and send.
  4. You will receive a reference number via SMS.
  5. Write the reference number received on the MoMo registration forms.
  6. MTN MoMo Agent will call and also visit your location for inspection.

How do I start mobile money in Uganda?

How to Kick Off

  1. Present an Identity Card.
  2. Present a letter of introduction/recommendation from the Local Council.
  3. Have a deposit of UGX 80,000/= (Eighty Thousand Shillings) to purchase the kit.
  4. Fill in an application form.
  5. Have starting Float of UGX 2,000,000/= (Two Million shillings)

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.

How do I register for MTN mobile money in Uganda?

Register On MoMo

  1. Using MTN Mobile Money.
  2. In store.
  3. Step 1: Visit your nearest authorized Mobile Money agent.
  4. Step 2:Upgrade your SIM to a Mobile Money-enabled card using a SIM swap.
  5. Step 3: The agent will take you through the registration process.
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How much do you need to start MTN mobile money?

With Ghc1,500 you can get a mobile money container. Ghc 50.00 will get you a good “yam” phone. Buy Ghc500. 00 worth of MTN recharge Cards, Ghc250.

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 …

How do I become a bank agent in Uganda?

How to apply to become a Bank agent

  1. Visit the bank branch close to your business location.
  2. Respond to questions from the Branch Manager as regards aspects of your business laid out in the Agent Banking minimum standards checklist.
  3. Fill the Agent Application form and attached the required business Documentation.

What is commission in mobile money?

Since June 2019, a unilateral reduction in commissions relating to transactions via MTN mobile money has been observed. Commissions increased from 1 to 0.7% for deposits, i.e. 70 FCFA for a deposit of 10,000 FCFA and from 0.7 to 0.5% six months later, or 50 FCFA for a deposit of 10,000 FCFA.

How do you become a Pebuu agent in Uganda?

Simply Download the Pebuu App on your Smartphone: Click > Register & Call 0312246650‬ to be Activated!

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