With the advent of faster, safer, easier and more comfortable ways to send or pay money across the internet using mobile/internet banking platform comes great opportunity to cash into.

Taking cognisance of the fact that banks are still quite unreachable, inaccesible, overcrowded in some areas, you can make yourself available to the people in those areas to be their fast track banker by branding yourself as a mobile money agent(Mobile money already has the brand popularity so i advice you use the name to gain trust from your potential customers. Its more like franchising with the name mobile money agent but what you will be mainly utilizing is your bank's mobile and internet banking platform because it will be cheaper for you).

Note: that we will be majorly utilizing your bank's account internent banking/mobile banking platform and not the mobile money we've all heard about.They are two different things. It will be an added advantage being a registered mobile money agent because you can help people withdraw the money in their mobile money wallet but looking at the market demand, i will be focusing mainly on the depositing aspect. I called it mobile money because people will feel more comfortable doing business with you because of the awareness campaigns mobile money undertook which has made it very popular in the minds of people.

There is a growing number of mobile money agents yet i find out that most of the agents have not been really able to discover where the Goldmine lies in this area of their business. Most don't really understand the gap they need to bridge as an agent and after a while in the business, they become frustrated and close up. In order to make it big in this line of business, you need to be patient, highly diversified and think outside the box without following the crowd.
Some of us might still be wondering, how can i make money from this mobile money platform when there are banks and lots of agents around? Never mind, just wait, you will soon see the opportunities surrounding it.
The main reason behind Mobile Money was to brigde the gap between the unbanked population. Some of us live in areas where there are few or no banks around, overcrowded banks, etc. So as a very sharp guy who wants to make money, don't dull after you've read & assimilated this free info. Not all of us have the heart to go into fulltime importation, and this message is for those few people who also have a flair for banking and computers.


Mobile & Internet Banking have come to stay. It was a very nice experience sending money to my friend's account through my mobile phone for the very first time. That was two years ago. The comfort and joy it brought was an experience i never relinquished. I always admired bankers and for the first time my life, i experienced what it was like been a banker. Having said that, Let me not bore you with much talk and go straight to point

Mobile/Internet Banking: its the use of one's phone or PC to send money, pay for goods/services, etc. through an internet connection or via customized SMS. e.g Paying for goods and services with your ATM card through the internet(Many of us are familiar with this), sending money to a local or international account number(wire transfer) via your banks internet banking platform or mobile application, Paying for services via d internet/mobile banking platform, etc.

Many at times after using this medium, we feel at ease with ourselves without knowing we could tap into it to generate money. Some have heard of it but its very few who have embraced this mode of payments and i believe you're among the few or about to be among the few who utilize this payment medium.
Items needed include
1) A computer system or Tablet (Compulsory)
2) A smartphone (Compulsory)
3) A printer (Optional)
4) Internet Connection(Compulsory)
5)Bank account number with an active mobile/internet banking profile (Have account with at least three different banks not within your neighbourhood)
6) A good location (Businesss environment eg. Market)
7) Deposit forms (A4 size paper with spaces for details of deposit transaction, signatures, etc like your bank teller and your terms and condition. Good you have this incase of any case arises so that you can be covered) [Optional]

Get a lawyer friend to draft a simple terms and condition message for you. Since it involves money, its good you have this because you never can tell the kind of people who you will be dealing with in the long run. Start up capital of at least N15,000 - N20,000 is enough to start up so that you can break even. You can still start below that amount if you know you can break even. Get a good location and Create awareness for your business by having a signboard with the services you render boldly written on it.
Familiarise yourself with your online/mobile banking platform. Know how to send money, pay utility bills, etc. Since you're still starting up, this should be your main focus. Intrabank bank transfers which means transferring money between two bank accounts within the same bank is free while Interbank transfers which means transferring money between two bank accounts of different banks attracts a charge of N100 - N125 depending on the bank. Having known this split your start up capital between your different bank account and make a pricelist of your fee for sending money and bill payment. You can decide to make it 5 - 10% of the total amount to be sent + a constant N100 charge which will cover the interbank transfer fee with a maximum fee charge of N500. Since your capital is still quite low, you might decide to peg the maximum amount to be transferred per transaction to N5,000. Your money transfer/bill payment charge is dependent on your location. Do your own market survey and Charge them accordingly. Don't overcharge or undercharge them.
eg. If Mr A wants to send N2000 to Mr B, using the 10% fee charge, 10% of N2,000 is N200. Therefore total amount Mr A will pay you to transfer the money to Mr B will be
N2000 + N200 + N100(interbank transfer fee) = N2300

or if Mr A wants to send N5000 to Mr B, You charge him the flat rate of N500. Therefore total money Mr A will pay you to transfer the money is
N5,000 + N500 = N5,500

Same applies to bill payment. I will advice you have a flat rate fee for bill payments.

The opportunities in this line of business is much. You can expand this business by rendering other services which include funding and withdrawing of funds from ecurrencies (make your research on that), sales of databundles & recharge cards, etc. Be attentive to your customers, they can also give you a clue of other related services you can consider rendering.
I wont be surprised if someone taps into this opportunity and opens up his/her own microfinance or commercial bank in the next future. The motto remains "Start small, grow big". This is not a get rich quick kinda business and as such the profit you might make at your start up might either discourage or challenge you to become better and diversified. Keep your questions coming in on anything you don't understand.
God bless you as you embark on this new endeavour

wonderful piece Thanks so much for this

Great one bro....Gracias

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